Electrolytic caps aren't famous for having exceptionally low ESR, but they're the only technology that's compact enough to provide the current capacity required. The sub-optimal ESR leads to internal heating of the capacitor. The heat dries them out, the ESR rises, that causes them to make more heat, they begin leaking electrically, and they eventually just short out and start frying silicon.David Bernnig used a switching supply in his TF-10 preamp which was made in the early 1980s IIRC. I have a customer in town with one of those and it has the original filter caps in place- very much alive after all these years. He seems to have sorted it out- those filter caps run cold to the touch. The first statement in the above quote is false- electrolytics are the only technology that's compact enough to provide the **storage** capacity required, not current.
SMPSs don't need a lot of capacity because the switching frequency is so much higher. This means that a much smaller capacitor can be employed than in a 60Hz supply. I know some SMPSs did have some problems in the early part of the 2000s, mostly on account of some Chinese caps that were failing not because of switching frequency so much as the parts were just plain defective.