The only way I've seen anyone kill a Ti frame is weld failure, which is getting increasingly rare these days.

Ti has a couple of advantages beyond resistance to work hardening and high strength-to-weight ratio:
1. It's really difficult to dent or deform Ti tubing due to the toughness and resilience of the material.
2. It's extremely resistant to oxidation. It will always look new, doesn't need paint and if it's brushed finish you can touch it up with some ScotchPads. Also, it's less prone to seizing BBs and seatpost than other materials.

All frame materials have unique advantages. Steel gets you the majority of Ti's qualities without the cost or availability issues. It's easy to make light and stiff frames out of aluminum and you can hydroform it into cool shapes. Carbon fiber is both lightest and stiffest and allows you to tailor every aspect of the ride. IMO, TI is best if you value ease of maintenance, durability and toughness above other factors.