Earlier quoted context omitted.
You're not taking into account the thermal strain on the machine, though. A machine that's 100% utilized (even worse if it's in bursts) will last less than an idle machine.
Not appreciably, and not before a 5-yr AppleCare+ warranty expires. Out of our >3000 currently active Apple Silicon Macs, failures due to non-physical damage are in the single digits per year. Of those, none have been from production systems with 24/7 uptime and continuous high load, which reflects your parenthetical. Perhaps we haven't met the other end of the bathtub curve yet, but we also won't be retaining any of…
It’s three years for Macs, though I believe you can pay annually for longer. Five has never been a thing to my knowledge.