Seems like chopped up waveform would cause light bulbs to fail prematurely as well. I mean if you think about it, most of the time a household light fails is when you turn it on. So turning it off and on faster, just seems like a bad plan.
That's because the filament gets from cold to hot very fast when you first turn it on, kind of like the first hit on a massive coil. If it's already hot the shock isn't big, especially when you pulse much faster than the filament can cool down.
If someone could just draw a simple diagram and post that.
What do you mean with "simple diagram"? The wiki page linked on the 1st page has some diagrams and explanations. However if you're completely unfamiliar with electronics it will still be hard to understand.
Keep in mind though that what's on our boards is far more complex than just the basic circuit, our mods are optimized for efficiency (at least some of them are

) and will likely also smoothen the signal.
If you want a real world analogy, think of a car jack. At each lever pull you're putting potential energy into the car, after a few pulls it will be more than one pull of the jack is able to put out. (it's a bit of a stretch but the principle is very similar).
Here's a video showing the operation (with a manual switch instead of an electrical one)
and a short fun clip showing the underlying phenomenon of the "jack" (well at least part of it), electricity and magnetism interact.