Nope. Lifetime Warranty has actually made things worse for SantaCruz (maybe others?). Just before they went to lifetime warranty they had more of a no questions ask policy and would warranty pretty much anything that wasn't abuse, including damage caused by crashes. Now it's more likely to be a crash replacement deal than a no cost replacement. So 5 year no questions asked or lifetime, but expect to pay if something breaks.
I guess the newer way is more fair, but don't forget frames have jumped up in price dramatically in the past few years. Thankfully, bikes don't break like they used to.