Paracord works like a fabric. Give your knife a good beating and the paracord will wear out. Too many washes may make the color fade. Too many intense uses will make it wear out. At some point, the paracord will need replacement. You can buy it in all kinds of designs and sizes, so you can fit it yourself.
While a wearing handle is not enticing, paracord is not expensive. Such knives can last for a lifetime and allow great customization. Besides, a new paracord in a different style will give your knife a brand new appearance.