That works for a while so long as it's not fraying near the Magsafe connector itself. I eventually threw out my older charger because there was more electrical tape than original coating. My current one started deteriorating right at the connector so it's patched up with epoxy paste to provide strain relief.
I tend to agree that Apple isn't going to retreat on USB-C. That just doesn't make a lot of sense. And whatever minor virtues Magsafe may have, I'm happy when traveling not to have to remember a one-off charger for a laptop. (Which I have forgotten a couple of times.)
I just bought my first macbook, a 2015 model. Looking at the charger, the connection with the magsafe connector looks ok (but definitely weaker than regular barrel jacks), but it seems to me that people get the tendency to unplug it by pulling the cable instead of pulling on the connector. Perhaps that's why they deteriorate rapidly?
I'm sure people do at least now and then. I almost certainly have--are at least I'm not super careful. And I know mine does get accidentally yanked out every now and then.
And I find the covering of the whole cord tends to deteriorate over time, which isn't strain related.
I tend to agree that Apple isn't going to retreat on USB-C. That just doesn't make a lot of sense. And whatever minor virtues Magsafe may have, I'm happy when traveling not to have to remember a one-off charger for a laptop. (Which I have forgotten a couple of times.)