There was a time back in the nineties when DFI/electronic ignition and computerised engine management all came together with Euro and Californian (CAFE) emmision standards and lead free fuel to vastly clean up the way IC Engines run. At the same time spark service intervals started to increase until by the noughties 60,000 miles was about standard. Spark plug tech also improved in response to these demands and I think iridium plugs started to appear around the same time so its horses for courses. Not a waste of money in a modern engine maybe as NGK gives the life expectancy of their iridium electrode plugs as 100,000km and that is probably a conservative number... In a BSA though, most probably not worth it!
Generally speaking our plugs really don't wear out but they do foul. Due to variable running conditions (air/fuel ratio, ignition timing scatter, unburnt fuel and oil etc. etc.) our dirty old engines will slowly or sometimes very rapidly deposit carbon on the electrode ceramic insulator and the spark will track to earth instead of making a bid for freedom across the gap. Most of the time this occurs down in the well away from the tip and no amount of wire brushing will do any good. There used to be spark plug cleaners which basically sand blasted the tips but I've not heard of anyone doing this for years. An iridium plug will foul up just as quick as a standard plug.
Standard plugs are relatively cheap, toss it and fit a new one seems to be the go like so many things these days.
More info here or in your own country's equivalent site.
https://www.ngk.com.au/products/spark-plugs/