Rotted wood can be replaced cheaply, and easily. Cracked/crumbling concrete is neither cheap nor easily repaired. The earth moves, and concrete tends to not like that. At some point, cracks will happen.
The worst problem with wood decks, however, turned out to be carpenter ants. They eat the wood from the inside out, so it looks fine but has the strength of a loaf of bread. I was able to push a screwdriver right through it. When I finally realized the deck had to go, when I cut through the supports it collapsed into a pile of dust. I was astonished. Instead of picking the debris up into a truck, I shoveled it.
The wood itself matters a lot too. Black locust wood has an enzyme in its grain that makes it extremely rot resistant. I've heard of black locust poles used as fence poles in the ground lasting for decades.
There's plenty of inexpensive self levelling top layer compounds available - it is an easy and quick thing to repair.
And a properly installed wooden deck doesn't need to rot either. All of these things can function properly when done right the real problem is the disappearing neccessary craftsmanship. In a race to the bottom everything becomes disposable and half assed.
Of course that’s a lot of work. But in most climates it’s worth it — a deck (or asphalt driveway) has to be sealed every few years — you save a lot of maintenance expense and hassle.