Eventually can be a very long time. My starter in my 91 Trail Boss was junk the entire time I owned it, probably 10 years or more. The battery was dead the entire time I owned it and the people that bought it are still roping it over and it's still going.
I believe that system uses an old style magneto for spark and a separate charging/lighting coil(s) just like older sleds. (you can tell the difference by how the lights dim at idle)
The lower the output from a stator or alternator the less likely it is to fry from overloading it.
Newer machines have much higher stator outputs to keep their lighting and electronics happy and also run the ignition system (and fuel injection if equipped) off the same stator and are more prone to fry sooner.