Some of the rods and reels today are cheap as crap, you get what you pay for and sometimes you get ripped off! I have several older rods and reels that I absolutely love and they take a hell of a beating! Having said that I have bought several reels over the years that have BLOWN UP after fighting large fish. Those reels were all cheaper and simply weren't designed with quality in mind.
As for rods and reels being well made today....... I'll be the first to tell you that there is a lot of crap out there, no doubt. If you spend the money and get something that is high quality and take care of your equipment it should last you a lifetime!
One of the reels I use is a Shimano Calcutta 400TE which is a few years old, it cost over $400 and it is an absolute TANK!!! The Penn Peer 209M.....A great reel also, it was made with quality parts and is a TANK as well! The "major" glass rod is a fantastic rod for trolling because of it's glass technology, it will also take a beating because it's made of glass where as a high end graphite rod isn't as durable but has other benefits. The newer high end rods are usually made from high composite graphite which has incredible performance and for certain applications such as casting large bucktails, it cannot be beat!
The newer trolling rods tend to have a glass/graphite blend which is amazing, you get the softness of glass and the strength and weight reduction of graphite.
You can catch fish with any rod and any reel, but over the course of a lifetime quality "well built" equipment and perfectly matched equipment for the application you are doing will benefit you in the long run! You don't need to buy all the new equipment all the time, that is simply a waste of money, but if you fish 150 + days a year like myself, you want something that holds up and I'll bet my life that a $29.99 Canadian Tire special will be the first to blow!
Here is a video from a Gary Loomis explaining the differences in technology:
My link