It's a very conservative estimate, as manufacturers really don't want to deal with warranty claims.
One part of solar system design is often to undersize the inverter a bit, so you might not see any degradation in the first few years at all. The logic there is that the electricity lost to clipping during peak times of the year doesn't make up for the higher cost of a larger inverter.
Try to avoid SolarEdge inverters if you can. Enphase is really good and has a local API (so you can pull data into Home Assistant and other apps without going via the cloud) with a bunch of data, including per-panel production. Fronius and SMA are good too. Everyone I know with SolarEdge inverters has had issues with them though.