Pulleys drive the belts via the sloping sides.
Over time the belts wear these sides so the space becomes bigger and the belt runs deeper in the V groove and the belt gets looser because it is effectively running around a smaller diameter.
A pulley needs replacing when the belt is running on the bottom of the groove indicated by the bottom being polished shinny and the belt slipping under even light loads.
The other reason is physical damage usually caused by picking up rocks, Nicks & bends in a drive pulley can usually be smoothed over,
Very rarely the pulley will bend on the shaft but that is extremely rare.
With used machines all sorts of things can happen.
I had a customer who was forever bending blades and wearing out discharge chutes.
Finally he did in a pulley so I ordered a new one , It was 1.5 " larger so someone had fitted pulleys off a 32" deck on a 42" deck thus the blades were spinning near twice the design speed.
The faster a blade spins the easier it will bend. So now with the correct pulleys he no longer eats blades or throws debris over the fence, however he does complain that the discharge chute keeps on blocking ( you can't win them all ).
A stick no thicker than your thumb can break a spindle if it jambs between the blade & the inside of the deck, even really soft wood like spruce or pine .
A deck that is too low at the front will also tend to break spindles every time the deck scalps.
Running heavy blades like Gators will break the spindle housing because they do not bend when they hit things like the thin AYP blades do.
A bad idler pulley or tensioning pulley will set up vibrations that can crack spindle housings.
A tension spring that is too heavy will not give and allow the belt to go slack when some thing causes an instantionously stop of the blades and cauase higher failures of the spindles than usual.
Using standard bolts to hold the spindles in can have them back off and thus cause the spindle housing to break
Then there are things like a bent deck.
Finally there are a lot of substandard spindle housings out there in ebay land that were rejected by Kohler or Murrys factories in China, sold off at auction to whoeveeer will pay the best price , get into the hands of disposal merchants ( usually in Hong Kong ) get sold in batches of 10 to 50 to ebay merchants in USA & Australia then flogged off to unsuspecting owners at around 1/2 the price of aftermarket or 1/3 the price of genuine.
I see a lot of these in my rounds.
Down here original housings are $ 75 retail, aftermarket are $ 50 and you can pick these up from what looks like a real mower shop on evilbay for $ 20 with free postage.
The bearings alone are worth $ 25.