I’ve heard since bass pro bought them the warranty thing changed. Not sure haven’t needed to warranty anything from them.
They essentially have an unlimited warranty/refund/exchange policy on everything they carry. Not sure how it applies to high end glass, but it works on fly rods.
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I've seen on other forums guys buying Cabelas labeled scopes that says right on the box "Lifetime Warranty" and when the scope is rung up at the register being offered a 3 year warranty "wait, the box says lifetime", get manager involved, back and forth, "yeah, that lifetime no longer applies".
Have also read of Cabelas lifetime warranty on waders being returned due to leaks (not abuse like a puncture or rip, but leaky seam) and the response being "they useable life of the wader has passed".
I still go to Cabelas/BPS because I'm in the heart of the BPS country, but when the "Fine Gun Library" has Remington 870 Express shotguns and run of the mill price point plastic stocked rifles, you know they are total crap compared to what they were 20 or 30 years ago.
Tried to buy a fish finder last year at BPS in Rogers, Arkansas, Wednesday before Thanksgiving. Didn't know it was going on Black Friday Sale on Friday. I was willing to pay full price for it (regularly $950, going to be marked down to $550). They wouldn't sell it to me at full price. "you'll just come back on Friday and ask for the difference". Ok fine. Called Scheels while I was staning at the BPS fish finder counter. Told them BPS was going on sale Friday for the $550 price, guy with Scheels (on speaker phone) had me add it to my shopping cart at Scheels.com, once added to my cart, he marked it down to $550, I completed the purchase, and had the fish finder on my door step on Black Friday. I think that impressed the kid that wouldn't sell it to me at BPS as he listened to the transaction.