How good are these surge arrestors in terms of lifespan? i.e. Is it something I can expect to last basically forever or will it perish after a few surges?
First appreciate that load shedding is completely unrelated to surges. Load shedding means appliances power off. That power off never damages an appliance.
Second, power restoration means voltage slowly increases due to the massive restart load. No surge or high voltage spike exists (other then in speculation). That slowly increasing voltage is ideal for electronics. And may be harmful to motorized appliances. Best to unplug motorized appliances until power is restored and stable after a few seconds.
Third, some power loss (not load shedding) can be created by a surge. IOW damage occurs during a surge and before power is lost. Then when power is restored, many who use observation as fact then assume power restoration caused that damage.
Fourth, an adjacent protector (or UPS) only claims to protect from a type of surge that is typically not destructive to appliances. It does nothing for load shedding. And does nothing on power restoration. Worse, it can sometimes make nearby appliance damage easier during a surge.
Protection from destructive surges requires something completely different. Also called a surge protector - creating much confusion. Whereas an adjacent plug-in protector can be grossly undersized to fail on a first surge (that promotes sales). The other and proven solution will harmlessly earth many direct lightning strikes without damage. This superior solution is also much less expensive since it is doing protection; not profits.