Sure you would. My friend did that with a Moonstone Jacket that was leaking. Old, but not too old. Shouldn't have been leaking anyways.
Gore said, yup, that sux0r, go buy a new jacket and send us the bill... That's right, any jacket..." So she did, and they sent her a cheque.
When my Arc'teryx jacket started delamming, they made it quite clear that they were not footing the bill, that Gore was.