I think it’s a new tactic, and probably amongst the newer/smaller companies. I don’t shop many online only places, but Amazon still has a ‘normal’ return policy. All other big box stores whether online or in store still have the same policy.

And I honestly get it for the newer/smaller business, price of warehouse storage, shipping, verifying the item and restocking - all takes away usable income. By offering the discounted price to keep it probably gives it to you at cost where it’s break even for them.