I can't argue with your first-hand observations Chevota. When it comes to powder, or paint for that matter, you must select the appropriate product for the application. For example, you shouldn't use a powder with low UV tolerance for an outdoor situation. That will definitely create a fading problem. If you're seeing a powder finish peeling, that is a sure sign that the substrate was not prepared properly. Some metals require a phosphate treatment prior to powder coating to assure good adhesion. It simply depends upon the materials used. I find that many people dabbling with powder assume that what worked with paint, will work with powder. That is not necessarily true. One must do the proper research first. As an FYI, many people do not realize how many products are now powder coated. Almost all major appliances, bicycles, building structural components, barbecue grills, aircraft components, etc. use powder now.
http://www.pfonline.com/articles/080305.html
A major advantage that paint has over powder is what you pointed out...the average Joe can apply a good paint job, but probably doesn't have the equipment to apply powder coatings.
In either case, paint or powder, a poorly prepared substrate will cause the coating to fail. As we say in Aerospace, I'd rather have a bad paint job on a clean part, than a good paint job on a dirty part.