It's probably not designed to replace the investment /value aspect of WL, just a rider of sorts to a term policy to cover the danger of becoming uninsureable down the line.
With all the benefits of WL, the OP was discussing the poor avrechim etc that have NO long term plan, I doubt many of them can afford the premiums on WL (in the amounts they'll need)
And all the WL pitch about term being money in the garbage, is part of why people who need term don't buy