MIM firearms components had some serious issues when they were first introduced and this earned them a bad reputation that carries on with some gunsmiths to this day. If not "cooked off" properly or if the base material isn't well suited to the use, a part that is brittle and fails quickly is the result. BTW, these parts were first offered for the 1911 platform and some custom crafted 1911's caused serious issues between the gunsmith who build the gun and his customer, so it's no wonder that some gunsmiths still deride MIM components.
However, S&W was a bit late to the MIM game and they took the time to work with their material suppliers and their process Engineers to make sure they "got it right". I've seen one single posting about an MIM part failing and that was a hammer spur that shear off after many thousands of dry fire cycles without the use of snap caps to cushion the fall of the hammer. Note, just ONE SINGLE FAILURE in two years on a very active forum and it was most likely the result of what many would consider abuse, including the person who posted about that broken hammer spur.
I'll also point out that about 1 1/2 to 2 years ago a member who knew one of the S&W engineers involved in the MIM implementation described the testing that S&W subjected the parts to before making the change from forged to MIM. Basically, they ran MIM and Forged parts in a parallel test that cycled these parts for many many cycles, my memory has the total cycle count being in the millions but I aint got the best memory, it could have been in the 100K range. After all these cycles the MIM and Forged parts were then checked and compared microscopically. The result was that the MIM parts showed LESS wear than the forged and no MIM parts failed during the testing. I suspect that 100 years from now collectors will prefer MIM guns over any other type because they'll stand up better than the forged parts.
As for why, it's pretty simple. MIM allows the material to be fully Engineered for function and structure down to microscopic levels, meaning it's a FULLY Engineered product. Unfortunately, Forged steels can't be fully engineered down to microscopic levels, to some extent "Pot Luck" is in play. BTW, I've had personal experience with that Pot Luck, you should see what happens with you try and drill and tap a hole in a piece of forged steel that has a chunk of tungsten carbide imbedded in it, end result is that nearly finished workpiece goes in the scrap hopper and you start over.
Bottomline, MIM from Smith & Wesson is MIM that has been done correctly. This means that it's as strong and probably stronger than forged steel and contains wear resistant particles in it's engineered matrix that will allow it to last longer than forged parts. IMO, MIM is Win-Win for all concerned, we get a longer lasting gun and S&W no longer has to individually fit each hammer to it's mating trigger. I'll also note that I've found that MIM guns are much easier to tune for a superb trigger feel than the older forged parts because no additional fitting is needed and the MIM components incorporate features that have to be added to forged parts for an action tuning.