Heh, theory is good, but what we have on the practice?
1. Lot of carts were sold for this years, but NO ONE were returned due the flash chip damage. If carts comes back for repair, they usually damaged physically or has some manufacturing defects. Some early carts, like edmd v2 or super-ed v1, may lost bootloaders, but this is was only software problem.
As for possibility of console damage, here also not been detected any problems. I have MD2 and Famicom-av from first days, they intensively used for development and just to play some games. I use them more than 7 years in heavy mode and nothing happens. Also we have few consoles for production testing, they used almost every day and for 7 years only one famicom died, and it happens due the power cord accidentally shorted on console pcb. The only problem with those test consoles is cartridge connectors, they stop working every 5-10 months after such using in extremely heavy conditions, but after replacement they continue working.