I don't see many switch on chip failures over the years, but I do see lots of bad optic network transceivers. As a network guy dealing with flaky gigabit transceivers over the past 25 years, I just have to wonder how well this will work out aggregating them all to one chip.
Hopefully with optics integrated on the chip they will become more reliable, less heat swings. less likely to be banged around by people plugging and plugging neighboring ports. but we'll see...