You're thinking of cars, industry and others that have high value batteries.

Power tools, smartphones etc charge to the maximum 4.2V/cell, sometimes even 4.3V (some chemistries safely allow it) because the average person just wants the maximum runtime and will replace the equipment before the battery degrades significantly.

Yeah, I'm pretty sure I read that somewhere too. The reason being overcharging just once basically kills them, so they give it a lot of leeway and say it's 100% well before that.