Many countries have abandoned corks and go with twist tops instead, except when they export to countries that associate corks with quality. I hate corks, I can't wait for the whole world to adopt twist tops.
They are used more and more in low-mid range of wines in France, and nobody complains about it.
Still it does not cut it for more than a year or two of storage.
Of course, 4 or 5 Euros in France usually does the trick for table wine (with a real cork to boot); imagine in the States the same bottle will run $25+
I don't like the plastic corks myself, they seem inordinately hard to pull out of the bottle.
But plastic corks will probably stick around, because they seem to give folks the illusion that they are doing something special when they open the bottle.