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.
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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