From my own experience, although have not been shopping for a Leica for quite some time, among my LTM Leicas, three IIIa, IIIc and IIIf, the vulcanite on the IIIc shed completely and had to be replaced by Yu Xin, my two M4s, M3 and M5 and my wife’s M5 are just fine, although the vulcanite on my daughter’s M3 is chipping.
If there is any difference in condition of vulcanite between LTM and M cameras, a possible explanation could be that during the LTM era, Leicas were considered expensive precision instruments and therefore usually carried and used in leather ever ready case in order to protect investment. Beginning in the 1960s, cases were considered “not professional” and those who used them as “amateurish”. So, possibly, users following fashion, M cameras were exposed to more abuse than LTM.
LTM cameras have too many crevasses, allowing invasion of dust, dirt and lint. For carrying in jacket pocket, Leica once made a case sort of like a long old fashioned coin purse to protect camera. At one time Leitz advised against carrying a Leica in pocket because of lint.