Back in '96, GM made the "mistake" of calling Dexcool a "lifetime" coolant. By the early 2000s, manifold gasket failures on the 3.1L/3.4L as well as 4.3L, 5.0L and 5.7L using plastic carrier gaskets with moulded silicone was common. The root cause was air in the system, which caused acid to form when mixed with the coolant and attacked plastic carrier gaskets. The plastic would soften, swell and eventually leak. Newer gasket material, primarily HNBR with aluminum frames addressed the problem, but until that point both GM and some aftermarket manufacturers were paying for warranty claims.
I, personally, have never had a problem with Dexcool. The LM7 5.3L I had on an old Avalanche didn't cause me any grief, nether did the LL8 4.2L in my Envoy, both of which have been running Dexcool since they left the factory. Whenever a cooling system repair was performed, e.g. thermostat or water pump, the system was thoroughly flushed and back flushed and refilled with premixed Dexcool. I no longer have the Avalanche, but I personally know the person who now has it with 293,000 miles now and he's got no issues with it either. I flushed out the factory coolant on the Envoy when I replaced the factory thermostat at 56,000 miles and again when I replaced the water pump at 115,000 miles. The system is still clean all round with zero issues at 135,000 miles, which is stil less than half that of the Avalanche.