I’ve heard the same thing. It shouldn’t be a problem for Time Machine, however. TM’s main purpose is for regular, hourly, backups, not archives.
For long-term storage archives, I would definitely recommend something else - either tape (if you can afford the drive) or hard drives.
These are frequently-quoted figures, but my experience disagrees completely.
Magnetic media, if properly stored, can last for an extremely long time. Far longer than 10 years. For example, I’ve got Apple II floppy disks that are still perfectly good after nearly 40 years.
Optical media longevity depends greatly on how it was manufactured. I’ve got some CD-R and DVD-R media that failed within months of burning. I’ve got others that have lasted for over 10 years. Unfortunately, there is really no way to know in advance if the media you’ve got will last or not. Manufacturer claims have not been reliable.
I think a bigger problem is if your drive (including the mechanical parts of a hard drive) will last that long or if you’ll still have a computer that it can connect to. It’s already impossible to get a new floppy drive, or tape drives for older standards like DAT, Travan and VXA. Even optical drives are are going to be going away (hopefully not too soon), since software manufacturers don’t generally distribute their products on disc anymore and a very high percentage of consumers prefer downloads and streaming for their music and movies.
Furthermore, modern computers may not have the interface required to connect drives for these older standards. For example, I’ve got an archive of old Mac software on SyQuest cartridges. I have a working drive, but the most recent computer I’ve got with the SCSI port it needs is a 2002 PowerMac. Anything you buy today will probably end up in the same situation 10-20 years from now - don’t count on even USB being available then.
In other words, there is no good choice for archival storage unless you’re prepared to do the work needed to migrate your archives to newer media as old formats go away and new formats are invented. But this discussion is far beyond the scope of whether an SSD is or is not a good idea for Time Machine.