Heh, back in the days of vacuum tubes, yes: the device performance itself drops over time. Circuit design can mitigate that to some extent (negative feedback), but eventually the tube just wheezes too little to be worth using, and it's time to buy new ones. Typical commercial tubes lasted on the order of 2,000 to 10,000 hours, depending on how hard the circuit was running them, and on manufacturing quality. (Premium quality tubes, ran under gentle conditions, last much longer; the record is perhaps some tube-centuries of collective lifetime, with no failures, in undersea cable amplifiers. Specialty tubes also found use -- still to this day in fact -- in satellite communications; their excellent reliability record makes them ideal for aerospace qualifications.)
But with semiconductors, nah, it's much more mundane. Either the circuit works or it's a puff of smoke. Everything else is mechanical: crusty potentiometers, crumbling speakers, corroding connections, etc.
Tim