Most analyses by Consumer Reports etc try to compare 5 year costs. But when you try and do that, your answer becomes dominated by the trade-in value of a 5 year old EV vs a 5 year old ICE. That's a really hard, highly political task.
Lifetime cost eliminates that and gets down to true costs.
The 5 year value of the car shouldn't be in the calculations IMO. It has no impact on lifetime costs -- since it's subtracted from the costs of the original owner and added to the costs of the second zero, netting to 0.
Also, people buying 5 year old cars tend to be more cost sensitive than those buying new cars. The value of a used car is primarily in the cost savings, so as consumers become more familiar with the costs & benefits of EV's, the trade in value should converge on a price which makes lifetime cost analysis and 5 year cost tradeoff analysis give similar answers.