REI's Return Policy since it opened was Lifetime Satisfaction Return Warranty. Less than five years ago that was changed to a One Year Right of Return, because of the ABUSE of the Return Policy.
I have personally seen numerous people who buy new camping gear in the Spring, return after heavy use during the camping season (without a legitimate complaint), and use the Refund to Ski gear for the Winter Season, only to return the Ski Gear at the end of the season and buy camping gear with the refund. Those people do the same thing every year. As a result there is very little new money bing put into the system by these people, they are using REI as a Free Loan Store. Like the Auto Parts Stores that Loan Tools for free.
This is morally wrong, regardless of whether it is legitimate as far as store policy goes. The idea behind the policy is to give value to the purchase by making sure that the consumer gets an item that he really wants. Not to load new items to individuals who have no intention of keeping the items in the first place and treat the policy as a Free Load Program.
If you have an item you bought that you don't like after trying it (and I say trying it, not using it for a whole season or a vacation), then go ahead and return and get your money back.
If you simply don't feel like paying for something, then don't buy it in the first place.
Have you tried going to some REI Scratch and Dent (Used Gear Sales)? I found them to be an excellent way to purchase gear at a reduced priced that I want to try. If I don;t like the item, I simply eBay it off, and wait and watch for something else that might work out better.
My primary 2-man backpacking tent is a 12 year old REI Half Dome 2. It's been all over the US, and Canada. I had earlier models of the same tent, and I've bought many, later model tents at REI Used Gear Sales. After trying them out and finding out that I don't like a feature or find flaw/s in the design or materials, I get rid of them.
The Used Gear Sales really work out well for me, as I get to try newer technologies without paying the high price of this season's new toys (which often end up being design or marketing failures). I have a Brunton LED candle lamp that I got at the end of the season that it was introduced at $40, and I paid $10 at a REI Used Gear Sale. If I had known how poor/low the light output was (despite the ads), I would not have paid $10 for it. In the years since then (it was discontinued that first year), the outlet camping places have been selling them brand new for $10.