"What happened to pride in the work and quality? My parents bought products, they were expensive, but they lasted decades. Today, the products are either cheap and fall apart after a couple of uses or they are expensive and last a few years."
How many people know the names Electrolux and Kirby? Not many these days, and they were as you described: companies that made expensive vacuum cleaners that lasted for years and years. But then that was their problem. Once customers got their vacuum cleaners, they never came back because they never needed another.
There's your answer. "One and done" isn't financially sound because ANY business in the world will have running costs. Thus, one key goal of any business is to have repeat business.