The Stelvin cap is both a blessing and a curse, bottles can be opened dead easily with just a quick twist of its screw cap which makes it highly convenient (especially so when one misplaces one's traditional cork screw as so often happens). It's also very handy for resealing bottles that have been only partially consumed.
For me, the Selvin cap is also somewhat of a curse because I no longer have access to a reliable source of used corks which I use for a multitude of diffetent jobs—of which one of the most important is capping sharp tools.
Before the Selvin screw cap was introduced some decades ago, the quality of corks used in bottling wine in this country started to fall below par and the reason was that the demand for wine suddenly shot up in the 1980s. The quality of wine corks was pretty terrible, they'd either crumble or break into pieces when one was extracting them, or they'd leak or not seal properly and the wine would either age prematurely or it'd go off (oxidize) whilst still in the bottle.
Effectively, both the cork shortage and the concomitant price hikes for corks set the scene for the mass takeover by the Selvin screw cap.