There is an ISO standard for pixel defects in flat panels. https://en.wikipedia.org/wiki/ISO_92..._pixel_defects
Of course any manufacturer seller can specify their own policy and do not have to abide by the ISO standards at all, but certainly when the older ISO standard was in force, https://en.wikipedia.org/wiki/ISO_13406-2, and the LCD market was young, it was quite common for a brand new expensive LCD panel to have pixel defects under the ISO standard, and the monitor would not be replaced, especially if the defects were not in the "centre" area of the screen.
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