The specific issue with hall effect sensors is that they rely on relative position rather than absolute and sticks using them must calibrate to get a netural position. That calibration is open to error. They won't "drift" the same way as a PS4 analog where a potentiometer prematurely wears but springs will still wear and you'll get bad calibration from that resulting in the same phantom inputs.
WRT Saturn/Dreamcast sticks, you can absolutely find "drifting" sticks because the spring wears over time with use. Compare with DualShock 1s, what's the survival rate? About the same? N64 controllers are notorious for being loose despite using optical sensors.
Survival rate of DualShock 4 controllers is poor, is that due to an underlying technical issue or using a cheaper part? Alps makes a variety of parts that last from 100k cycles on the low end to millions on the high end. This is also a controller with a 6 hour battery life. Maybe Sony just went the jew route?
Potentiometer based analog mechanisms become the norm because of feel, which became standard and expected. Many people complained about early PS3 controllers (mostly SIXAXIS) having analogs that feel loose which went away after they stopped using hall effect mechanisms.
But sure we can continue with hundreds of gay "stick it to the man" articles written by jornoscum pumping a dodgy Shenzen based business.