Tony, you didn't do anything wrong. It's the UV
that makes varnish come loose. The surface of the wood actually breaks down a bit, which lets the varnish or other finish loose.Products which soak into the wood (oil, and "resinated" oils) hold a bit better, and they come off easier, or if they're applied thin and are mostly oil, sort of dissappear so you can sand and recoat without the hassle of removing hard varnish.Cetol and other coloured oil finishes have UV inhibitors (the colour helps) so they wood is protected.Exterior marine varnish is getting better as UV inhibitors get better, but if you do your own work, oil, perhaps mixed with a bit of varnish is a lot easier to live with.I like the rubbed oil look rather than a thick build up, mostly because it's easy to wipe on a coat with a rag. Theat means I'm likely to put on several coats a season and it stays fresh.This is a matter of taste, and everybody has their own idea of what they like. There's no right or wrong to it.Just remember, it's not the finish product that breaks down, it's the wood under the finish that lets go.