What you described is already done with ICE vehicles. Engines and transmissions are rebuilt all the time. Even cars that are totaled are typically given a second life.
Ultimately it's the vehicle's body and frame that determine when it's at the end of it's life. You're not going to put a new battery in a tesla with a rusted out frame.
Arguably the lifespan could be worse for EVs since replacing the batteries is so expensive (more than a typical engine rebuild) that many probably won't be willing to put that much money into an old vehicle.