They do, but the problem is even the circuit to disconnect takes a tiny bit of current. A DW01 is a super common little low-voltage cutoff chip, and it's quiescent current (nerd speak for the amount of current something draws when it's off) is around 3 micro amps. So 3 millionths of an amp. Normally this is smaller than the self-discharge of the battery so we don't care. But it all adds up and eventually destroy the cell if you leave it long enough.

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