If I may jump in here
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So sharpening works like with all other knives of mine. 15° per side. 30° total for the secondary bevel.
Thinning theoretically is the same as with my "normal" mid bevel knives as well but I say theoretically, as the primary bevel is way shorter with the s-hooks. So laying the knife flat on the stone with the primary bevel can be challanging and surely affords some experience, but it's doable. Masking the upper parts of the blade off with some thick tape will help to not damage the finish above the primary bevel.
The grind has a limited life, the knife doesn't really have a limited life other than beeing gone completely one day. What I mean by that is that it's mono steel fully hardened. So you're right that at some point, the grind will fade out if you thin it often enough. Depending on the use case and kind of maintaince, I'd give it at least a decade, for most people in this forum way more than that.
If you manage to wear it down in less than 10 years, that's pretty much abuse I'd say. Because that implicates that you (not actually you, but rhetorical you ;p) sharpened it with a stone progression that is too coarse, wearing the edge down too fast, requiring thinning too often.
Even though my knives are also beeing used by professional cooks, they're still kind of a luxury item and people usually will take care of them since they're expensive. What I want to say by that is that I have yet to learn of someone wearing the edge of my knife down by almost 3mm height in a 5 years period. That's the rate of wear it would require though, if we're talking about the grind fading out.
Nevertheless if that ever happens, you'll still have a functional knife with the hook and the s-grind (s-hook is the combination of the two) slowly fading into a convex bevel.
So to conclude all that I'd say the s-hook has benefits regarding food release as long as it's present, but no downsides once it's gone, as you'll end up with a knife that's just missing the s-hook, but otherwise is still perfectly functional.
