>Are you aware this will make everything way more expensive?

That depends how long things last on average. If things get 25% more expensive, but tend to last twice as long as a result of the legislation, they're actually much cheaper than they were before.

The problem is, consumers don't have a good way to compare product lifetimes, so they tend to judge based on sticker price. Mandating minimum lifetime makes these prices more meaningfully comparable.

Although personally, I think an even better market solution would be to mandate that products list price per guarantee-year prominently.