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.
Even stainless steel rusts, just more slowly. Roughly 10-100x more slowly, judging by https://www.nrc.gov/docs/ML1124/ML112490377.pdf and https://www.mdpi.com/2076-3417/10/23/8705/pdf.