They've been making Pepto-bismol that long, too, but I'm not running out to buy a six pack.
I think there is a time and a place for P-lips, perhaps, just as there is a time and a place to swallow a shot of Pepto. I''ve never had a reason to try Pepto-bismol so I don't know what makes it good enough to stick around so long. I've smoked a P-lip and I still don't know what makes a P-lip pipe good, either. YMMV.