> three major trade-off when it comes to tire compounds

We are inventing better and better compounds though, which just plain better at all three.

Formula 1 has to artificially nerf their tire compounds just to force racing teams to actually change tires at all - compounds are good enough that they can get all the grip they need while also lasting the entire race. But that's not as fun for the sport so they specific to the tire vendor that the tires must wear out halfway through the race -- but that reduced life doesn't yield increased grip.

The Michelin Defender tires are pretty all-around great in all conditions while still lasting 80,000 miles. For most people who buy a new car, that would be the only set of tires they ever buy (stock tires for 20k miles or so and then this one set until 100k and sell the used vehicle before they need to buy a second set)