You are correct, the new Zebco 33's are junk. You mentioned that you wondered if the new one will last more than a couple of years...no need to wonder, it won't last anywhere near that long if used much.
The Zebco Omega reels are good quality, but you pay for it. I brought three of the Omega Z03 reels for my wife and two daughters three years ago to use while slabbing for white bass, haven't had any issues at all with them and they have boated literally hundreds of whites with them.