Well, my Lyon and Healy Folk Harp is almost 20 years old. It has traveled coast to coast and has its fair share of bangs and dings. It is the material definition of well worn.
It has loveland levers, which have been regulated a couple of times but none have ever needed to be replaced. The sound board is slightly raised but not too much. It actually sound Much better than it did when new, and even better than it did 10 years ago.
I have do doubt that it has many good years left.
I have a older harp from the 70’s. It has seen better days and I have to treat it with kids gloves although it is still very playable (it doesn’t even have blades. It has hooks). But the L&H is build like a rock.
Certainly how long a harp lasts will depend on a lot of factors, but 5 years? That seems pretty short lived to me. That is how long many warranties are, certainly, but most harps outlast their warranties by a long margin. You just have to maintain them well.