I made that very point during the utterly fraudulent RIA conducted by the CAA when they inflicted the Eurocracy of JAR-FCL on the PPL world. But my point was dismissed as being irrelevant - the CAA alleged that cost of PPL issue plus the cost of reissuing a PPL every 5 years was cheaper than the cost of the old lifetime PPL.
Which was, of course, total rubbish.