This is definitely a failure on PG&E's part, but I'm still not sure how much sense it makes to assign them blame for this fire. The environment they're operating in is somewhat ridiculous - the forest is so dry and overgrown that pretty much any flame source will start a fire large enough to burn a huge area; this specific tower failure is basically just the thing that revealed a much larger issue. With proper engine…
A part is tested to a point of failure, based on the quality parameters you specify. I'd put safety pretty high on a 115,000V line. Choose your sigma level based on your goals. I'd wager 97 years is out of the ballpark of "Yes, this might fail". And to save on cost, don't come back every year "OK, it's still OK." Replace it - it saves cost (and in this case, potentially lives).
So yes, I'd assign them blame. Be it an engineering part, an asphalt road, a power pylon.
There will be outliers, but this was an outlier of systematic negligence, with no (recorded) documentation prior to the year 2000.
Scheduled replacement saves costs in the long term, if bottom dollar is the aim.