It's common to have bit sharpened. It's only $5 to sharpen a router bit from a professional...Why are you sharpening it? A router bit isn't like a saw blade. Unless you are in a production mode, your bit should last a lifetime. I have bits that I bought in the 70's that are still going strong, and these are cheap bits. I can't imagine the average person dulling a router bit. Maybe if it's a common bit like a round over in which case I would just buy a new one. Yours looks like a panel bit and to dull one of those you would have to do dozens and dozens of panels.
.A production shop would turn out 75 to 150 panels in a day and would want to keep their bits sharp. The average joe might do the equivalent 3 or 4 kitchens in a lifetime so the 75 to 150 panels should be no problem. I think what you meant to say is that router bits don't stay sharp for a lifetime if you use them on a regular basis. I would agree with that, but they don't have a shelf life so if you use them as an average person does, they should outlive you. But as I said everyday bits like round over bits are another story. For those high use bits just buy new ones.