No, that's not at all "what we do."
No, we didn't x-ray entire fuselages or wings.
No, we don't keep extending intervals until something breaks.
This is all wild imagination, and ignorance.
Airframe times and engine and component times are adjusted by history and discovery, and intervals may increase or decrease; when intervals are expanded, the increase in cycles, operational time, or calendar limits is done incrementally, with inspections. There is no program which increases intervals on the basis of running it until it breaks.
Your sky-is-falling comment is made on the basis of what justification, in light of the failure on this engine? Which interval was increased until it broke? Or are you simply speaking out of your ass?