Earlier quoted context omitted.
QR codes printed on thermal paper also fade over the course of a year and would be unreadable. There are always uncorrectable adverse conditions.
Sure. And if you light the paper on fire even 24pt Helvetica becomes unreadable. But I’m sure you too feel that the failure modes of this colored barcode form a proper subset of the failure modes of its monochromatic counterpart.
The primary problem I see is that so many industrial cameras today are black and white. B&W cameras can send at a higher framerate and you don't need to convert to greyscale as your first step in your algorithm, so it saves time to use b&w cameras.