Like most things, it depends on how you treat it.
As far as I know, you should never need to worry about a brushless motor wearing out, especially for our purposes where we will likely demolish them before they have a chance to wear out.
You do have to watch out for the bearings and magnets, however.
With the bearings, like any mechanical component, they will eventually wear down, however this will likely not be for a long time. It is still a consideration, though.
You also have to watch out for the magnets.
Under normal circumstances, the magnets are fine to last a long time, however excessive heat can eventually demagnetise them, leading to reduced performance and eventually the motor not producing enough power for us to use.
If anyone has any other ideas or wants to correct me, please do!