A warranty is merely insurance, so you pay extra to have some assurance of a refund or repair. It only needs to be good enough to keep the company honest. Defects are usually caught at the beginning of a product's lifecycle, so a warranty past the first two-years (again, generally speaking) is generally a repair plan, which is probably more expensive on average than just repairing it yourself.

From my experience, warranties in the US are good enough for that first "product defect" period, we're just missing the parts availability for repairs. The reason people seem to want longer warranties is because manufacturers charge a ridiculous amount for out of service repairs. For example, it's usually cheaper to buy a new phone than get a battery replaced by the manufacturer, despite the battery itself probably costing <$50.

So the problem here is not that warranties suck, but that manufacturers have a monopoly on certain repairs and can therefore push people into buying new instead of getting the repair. That's the problem we should be solving. Improving warranties doesn't really protect consumers, it protects large companies because they can just increase the price of their products because it's just an insurance product.