I'm confused. 365 days is indeed 52 weeks plus 1 day. (52*7 + 1 = 365)
The help file says:
$duration(seconds,N)
Returns the specified number of seconds in a week/day/hour/minute/second format.
The N parameter is optional. If N = 2, the result does not include the seconds value. If N = 3, the result is in hh:nn:ss format.
If you are expecting "$duration($calc(60*60*24*373+3661))" to return "1yr 1wk 1day 1hr 1min 1sec" you are likely to be disappointed because it clearly states "week/day/hour/minute/second format" i.e. it does not include years.
I suspect that Khaled decided to stick with weeks because of the impossibility of handling leap years when you don't know which year(s) are covered.