They haven't fully replaced the product, but what is cool is that they have a repair shop that has been doing free repairs for me. I've sent a very lightweight, very heavily used puffy jacket in twice for repairs at no charge.
Realistically I know that jacket isn't going to last forever, but I respect they are at least trying to help me extract as much life out of it as I can from a sustainability perspective.
If replacement is cheaper only because of geographic differences in wages, then we ought to repair. But if replacement is cheaper because of streamlining the use of nonrenewable electricity and so forth, then we ought to replace.
I sent back a down jacket which weighed practically nothing and packed down extremely small. However, harvesting the down is somewhat controversial and only recently has there been a movement to use ethically-sourced down feathers (I haven’t looked into the RDS standard. I’m sure it has problems, but hey, it’s a step in the right direction).
For normal fabric clothing, I think you are probably right. I do feel like the roundtrip in this case was worth it to get the most usage out of the feathers as possible (not to mention the 1000+ fill jackets like this are expensive).