For me, this is all about doing the math.
An extended warranty is typically going to cost somewhere between 10% and 20% of the purchase price. Just for fun, let's say it's 10%. This means that by the time you buy 10 electronic items (on average), you have paid for 1 new one. So the gamble here is that you'll "win" by claiming the extended warranty coverage on at least 1 in 10 items that you purchase.
So the question is: how many things do you buy that die after the manufacturer's warranty expired but in less than 2 years?
Is it more than 1 in 10?
I know that for me, the answer is more like twice - ever. I have had maybe 2 things die in that manner; Most recently, I had a laser printer simply stop working days after the warranty expired.
But that was a single item out of the dozens of things I've bought in the last 10 years, and it wasn't one of the more expensive items - it cost me maybe $100.
So when you do the math, figure out the ratio of devices that break in that > 1 year but < 2 year window, and then compare that to the warranty cost... you realize that these extended warranties are almost entirely pure profit for the retailer.