I don't have any long term experience with those particular products, but I am an engineer, and I mostly do water system design for a living.
The only thing that I can think of offhand is that plastic containers have some small amount of permeability that can let in contaminants over long periods of time (months to years). Contaminants go right through the plastic wall, given enough time. Plastic-coated foil helps, I don't know how much. I would not put one of these in my garage, and I would discard one that looked punctured, even by a pinhole.
I think the shelf life is just a legal thing. Nothing interesting happens to water by itself, and polyethylene does not turn water toxic with time as far as I know.
My personal assortment is a few big polyethylene water containers (stationary), some sealed gallons (vehicle mobile) and liters of water (foot mobile) from the grocer. In the bulk water, I put about 5 drops of household bleach per gallon, then sealed it gas tight. That's essentially what public drinking water systems do when they chlorinate. The idea is to make everything in there dead, and keep new live stuff out.
Water is not terribly high-tech. If it has been disinfected, remains sealed, and contains no toxins, it will be be safe to drink until the end of time.
Scott