There's 2 main issues :
1) it is supposed to stop it from worsening only, not fixing what is overstressed. As degradation is a gradual process you won't know how far already have your chip's life been shortened.
2) Most of the CPUs out there are from system integraters or prebuilt PC from webstore, most even panic and ignore the update popping up every now and then, they used to say it's the MB vendors, software issue, GPU issue and all other excuses before finally cannot deny anymore and come up with this "fix", which was like almost 2 years since the first RPL launch and near end of cycle of this generation, and hundreds if not tens of thousands of customers and server operators alike have experienced very frustrating denied RMA as per those tech tuber revealed, and by now, no extended warranty and said they will re-evaluate your denied RMA request if you send it in again, which is likely months or even year old where you have already taken your own money and buy replacement or move on to AMD altogether.
Issue 1 is for those who are lucky enough that the chip appears running fine now (well, I havn't been playing Unreal Engine 5 games yet so maybe it will kick my butt when I eventually play one), but not sure had it already shortened it's lifespan somewhat, imagine your feeling if it failed just outside original warranty period of 3 years.
Issue 2 is a brand image issue, they have been very dodgy and deny it's their fault for almost the entire product cycle of RPL, and even after they are ready to announce the next gen Lunar Lake, the supposed "fix" still have not arrived, let alone verified to be working. it's essentially a big "F you" for the whole time where you pay for the TOTL product in it's product cycle, and it have been complained about 13900k ever since they were released.
Those recall/ monetary refund / no question asked replacement with extended warranty are basically just brand image damage control IMO, of course it's Intel's decision which is more important to them, but if it's just the "ok, since now we will at the moment be more open to RMA requests and who knows when we will tighten again", for those who have their CPU unstable for 2 years since 13900k? or at least have to tweak a ton of settings just hope it don't fry itself, and have to follow closely to these tech news to hope they can minimize their loss? Good luck they will choose to pay for another intel platform