One of those bypass filter companies is Gulf Coast Filter. There are a couple things going on here.
First, oil does not wear out. It does get contaminated though. The bypass filters take out about every bit of soot and wear metals. They are slow and thorough, unsuitable as a primary filter.
Second, you change filters at a predetermined time. At that time you collect a good oil sample from the crankcase, and send it to a lab for analysis. If the oil is within spec continue to run it. If however it is determined that the additive package is shot, typically base number (the ability of the oil to handle acids produced during combustion) determines change day.
Third, oil changes in the range of 250,000 miles are not uncommon. Several things combine here usually. The filter holds a good gallon of oil re., 10% oil change at every filter change. If you are adding a gallon at every 7500 miles that is another 3 oil changes worth so you have replenished the oil between changes. 7500 is a bit loose for modern trucks, the one I drive uses a gallon every 20,000, but is within manufacturers specs.
For a tight engine 160,000 miles is not too uncommon though. Our company drops oil and filter every 25,000. Saving 50 gallons of oil is no small thing, though oil analysis and the fancy filter are not cheap.
Valvoline is a major oil co. selling recycled oil. They cover your motor as if it were virgin oil IIRC.