From my understanding of lasik, it basically just etches the lens on your eye.

Must people need different lenses over the years, so it's inherently a temporary fix. And one that comes with the risk of going blind and is almost guaranteed to come with various sight issues a few years after the operation such as having more issues seeing in the dark ("night blindness") etc. Wearing contacts comes with it's own risks however, so if glasses aren't an option for the patient, LASIK isn't that dangerous.

I could've gotten the operation for free (paid by my insurance) but decided against it, as my superlight glasses really aren't that bad and the risks just weren't worth it to me.

It doesn't wear off, however as the eye muscles weaken in old age, you become farsighted. This is why you have to wear glasses again.