Slow, compared to what? There are cases when it is your only choice.
Limited lifetime, in practice urban legend. I have never seen a single USB stick in last 10 years got defected due usage. Broken, yes. Lost, yes. Defected, not. But it is cheap. become faulty? Throw away and replace.
Do I have defected HDD's from all main vendors? Yes. I have cca. 6-8 on the shelve. They were just installed in a PC at home. No shocks, no vibration, no heat.