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I'll have to relocate the article but, as a structural engineer who's done this kind of computation, it's plausible. There's something called a "Goodman's Constant Life Diagram" that can be used to re-set the pressure differential to maintain current lifespan.
Didn't find the original article but, the Wikipedia article on it makes it sound even worse....and more likely it failed under pressure.
https://en.wikipedia.org/wiki/2023_Titan_submersible_incident