689-2RS are very small, lightweight and sealed. a 2mm steel shaft with a bunch of solid brass bearings might actually be heavier. Lube is the only question, and, arguably, pressing new identical bearings in every 40 years is not a very expensive repair. Easier & faster than re-boring for a new axle.
There's a bit of controversy about the 80 years comment, imho. Firstly, if the accordion is played regularly, the bearing & axle wear will happen a lot sooner. My "project" Morino club is 70 years old and it's been played until holes in celluloid. The brass axle was completely chewed

by the brass key rods. I say a good 0.2mm wear on the axle & key rod combined, if not more. Secondly, nobody buys a top of the range laptop expecting it to last 80 years. Or car. Or fridge. Or garden shed. So why is it that people want their relatively cheap musical instruments to last for 300 years and play perfectly during all this time?