I spoke with some wine industry professionals and they state a substantial percentage of wine is lost due to bad corks or corks that rot. Some estimate that as many as 4-5% (that's a huge percentage, one out of every 20-25 bottles) of all corks produced are tainted, thus having possibility of becoming bad for the wine in the future if the wine is stored for some time.
Screw caps are becoming very popular. One of the reasons is because they will not suffer from cork problems. Nevertheless, higher-end wines and European wines are less accepting of screw caps, as they don't have the tradition of cork.
At a local supermarket, there was a sign that promoting the use of screw caps and advising customers to not consider a wine inferior due to the lack of a traditional cork.
Some bottlers and vineyards also have wines corked with artificial corks. These corks are completely artificial man-made corks that do not have the risk of rotting.
While I have experienced wines that tasted off due to bad corks, I haven't experienced a single champagne that tasted off due to a bad cork. Do they use different corks? Or have I just been lucky?