Sam described his lathe as being about five years old. That's relatively new.
Having completed my spousally-assigned chores for this week, I was able to get down to the shop today to take my lathe apart to see what the leadscrew looks like. My lathe is about 9 1/2 years old, and while I think there may be some wear toward the end, it looks pretty good, especially compared with Sam's lead screw. Since my lathe is twice as old as Sam's, that only causes more concern about why Sam's is wearing the way it is.
Its interesting that my lathe (a Turncrafter) has standard threads while Sam's Jet has Acme threads - I would thing that Acme threads should be stronger than standard threads, but that's expectation may be based more on a guess than anything else.
I also inspected my ram more closely - the female threads inside the ram only go in about an inch - which means that there is only about an inch of contact between the lead screw and the ram regardless of how far the ram is extended. So my initial expectation that there should be more wear toward then end of the threads might be incorrect.
Even so, I'm still puzzled about how Sam's lead screw experienced so much wear in the middle of the thread. After all, the lead screw and ram only move when advancing the tailstock up to the workpiece, or when drilling. The amount of wear shown in the picture suggests either that the metal in the middle section of the lead screw is extremely soft, or else there has been an abnormal amount of movement between the leadscrew and ram - perhaps vibration due to misalignment between the headstock spindle and the tailstock? I would think that it would be prudent to find out why that wear has occurred before replacing the leadscrew.