I thought its weak point was wear in the ways? Or was it only the earlier models which did not have hardened ways?
Plain bearings, properly lubricated or not over-speeded, were adequate for the lathe at the time of production. They would have quite possibly consumed more oil (as a total loss system) than a well sealed taper roller bearing set-up, over their lifetime.
Another weak point might be that of driving the carriage with the lead screw. But maybe they were not expecting their lathes to out-live the company.
Many have avoided the weak links, or have replaced the worn parts, over the lifetime of the machines.
They were a good machine at the price-point, which allowed the public to be able to join the model engineering fraternity. They have been used (and still are) to make some superb models, over the years, so the ‘weak points’ have been overcome or avoided by most users.
All lathes are a compromise to some degree. I believe there are modified lathes, with a larger spindle bore, that may have been fitted with alternative bearing systems.