Plenty of opportunities for water ingress to still cause problems.
ADSL is basically modulating a radio wave over a cable directly to another device. Fiber requires high quality optics, high quality lasers, tons of active hardware if you want to do it at scale. (not to mention the mind boggling physics and manufacturing required for things like DWDM, optical path switching etc).
Fiber optics have existed since the 80's yes, but prices of high quality fiber solutions have only dropped massively in the last decade or so.
GPON makes this scalable and affordable, but at the cost of technical complexity. Fiber (as in, the cables themselves) is far cheaper to produce compared to copper, but this has mostly to do with the price of copper and not manufacturing techniques.
Historically there was a continuous upgrade of equipment as the technology improved. Manual exchanges became automatic, step-by-step gave way to cross-bar which gave way to electronic exchanges. Analog phones were replaced with digital and ADSL. And had that steady improvement continued, ADSL would have routinely been replaced with Optical fiber.
What stopped the perpetual upgrades was the arrival Thatcher/Regan/Howard and the advent of Neoliberalism. Which meant that anything which provided a Public Service (gasp Socialism!) was completely abandoned. We are only now starting to realise the long term cost of their vandalism.