It is easier to talk about what is in Flourite or ADA Aquasoil, etc. than to discuss a soil substrate, since there are wide variations in what a natural soil has in it. For that reason I consider soil substrates to be a different subject.

Some people consider commercial potting mixes to be soils. Others, like me, consider only the layers below the top soil to be worthy of use as a substrate. And, still others like ordinary garden soil. But, those three groups have different constituents.

But, any substrate which is used as a source of nutrients has to eventually run out of those nutrients, so I agree that those substrates "wear out".