America acquired a lot of bad habits in the prosperity that followed World War II. Easy money and the throw-away culture took hold and the ethics of thrift that were learned on the farm -- when we were in an agriculture-based economy -- were tossed into the wind.
That bucket of rusty tools you see today were a major investment in the Depression years before the war, and they were built to last generations if cared for, but if you live in a consumer society you have to consume.
Yes, but the economy changing also changed the best way to approach things.
Back then, labor was cheap and things were expensive. Now it is the opposite. It was a week's wages or more for those wrenches. Now its only a couple hours, maybe.
If the time it takes to fix or repair exceeds the cost to purchase, it makes far more sense to replace, but for simple and cheap things sometimes its more expensive to store, clean and maintain than to just replace.
Push mowers are a good example. I don't care about a cheap push mower. If it takes me more than 4 hours to repair it, I'm money ahead to just buy another one. My time is very valuable, and I charge myself shop rate for things I don't enjoy doing. Its how I evaluate everything that needs repair or replacement. If I can make more money in my shop in the same time, I hire it done or replace it. I don't work on my own cars. I can hire it done faster and cheaper. I'm actually LOSING money to change my own oil and do brakes.
I was happy to fix my furnace, because it took me less than an hour, and $100 in parts, but replacement would have been $2500, and hiring a HVAC guy would have been hundreds of dollars to replace a simple module.
Sure, take care of your stuff if its an easy get. I'm not saying trash your stuff. Putting things away out of the rain or keeping oil in the sump is just being a good steward of your things. But I'm not spending two hours doing maintenance on a $100 item. I don't replace the handle on a shovel when a new shovel is $15 or $20.
Sometimes tools are just a means to an end. Maybe those big wrenches were bought for one job and never used again, but paid for themselves 10x over on that one job.