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How *exactly* is/should 'lifetime warranty' be worked out? Am i getting scammed by my retailer that only offers a refund instead of replacement?

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Im living in the EU (Germany) and bought a DRAM-Kit in 2019 from one of the officially recognized resellers of corsair products in my country. At that time a 2x16GB Kit (white + RGB) cost me 150€.
For whatever reason one of the modules died a few weeks ago (roughly 18 month after the purchase) and i contacted the vendor about it, as adviced also by the corsair website. "No big deal" they said, i just have to send the whole kit to them and they will sort this out with corsair. Sounded nice.
A few days ago, after ~3 weeks of silence, i received a refund from my retailer of 150€ without further notice. Actually not a 'real' refund, as i have to spend the money on their store. That's somehow suprising as, for my understanding, corsair offers a 'replacement' of a product (new, refurbished or 'matching' if the product is EOL) in their terms and conditions for warranties.
In case of somehow stable-priced products it doesn't really matter if its a refund or replacement. For DRAM however i have to spend ~220-250€ to get a new kit matching the initial one which seems to be EOL.
Am i getting scammed by my retailer? Might it be, that he already got a replacement from corsair and just want's to cut me short? Any advice?
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