The US may be an exception here but warranties are an additional benefit to your statutory rights but cannot diminish nor override them. A right is a right after all.
If applicable consumer laws provide for like-for-like replacement as a remedy then it is a matter of supreme indifference what the manufacturer's warranty allows or whether one exists at all.
Correct. The question is what are those rights? The US has Lemon Laws that deal with cars and gives you certain legal rights if a vehicle proves to be problematic. You are correct that warranties are in addition to any legal rights you may have, but I am not aware of any law that requires like for like replacement of consumer electronics, at least not in the US. YMMV.