There's nothing wrong with reinforced concrete, but the incentives to produce long lasting buildings are not there. The cheapest bidder will generally win and their building will last the "design life" of the building, but often not much more. The simplest way to change this is to extend the design life, which would result in stainless steels or another more expensive material being used in this application.
This description is fairly accurate. The CaCO3 (used as a source of calcium in the cement component of concrete) is completely decarbonated in a 1450°C kiln in the process of cement manufacture, combined with silica (from shale) +/- SO4 (from gypsum) and sintered to form an anhydrous calcium silicate (clinker: e.g. tricalcium silicate, Ca3SiO5, ‘alite’), then powdered (e.g. ordinary Portland cement, OPC). The skeletal limestone is long gone — and the above decarbonation step is the reason cement manufacturing process is a significant GHG source (in addition to fuel consumption by the kiln itself).
Mixing water with the powdered clinker generates a very rapid, exothermic, partial dissolution of the primary silicate. The rapid release of silica results in nucleation and growth of calcium silicate hydrate (CSH) plus Ca(OH)2. CSH binds the remaining unreacted solid mass together, giving cement its durability and strength.