An IRS can be made to be reliable, IRS off-road race buggies and Truggy's are reliable, although getting it to work well rockcrawling is not that easy. A good linkage system with solid axles can stick the tires into the rocks, in a more reliable pattern, than the IFS/IRS systems built to date (including Walkers experiment). An IFS/IRS system can be made to do the same (rake the front roll axis and almost level the rear roll axis to keep the tire contact pressure from unloading in a climb over the rocks) but the cost, space constraints, and attention to detail is overkill for most people.
The cubic cost is a major factor, for everyone except for sponsors like Toyota or GM. Ivan Stewart's PPC trophy truck is essentially a very trick IFS/IRS Class 1 buggy with truck like body panels. It is lighter than most of the other TT competition running straight axles, but not any faster (it is lighter, running less HP). GM also loosely sponsored a mid-engine IFS/IRS Blazer in the early 90's with less productive results (although it did look cool with SLA A-arms at each corner). These vehicles look great WFO in the desert, as do solid axle trucks with 26+ inches of wheel travel at each corner.
C2-C5 and Jag IRS parts are not that beefy. The C4/C5 aluminum pumpkin guts are D44 (I have one if anyone needs it). The C2/C3 pumpkins are heavier duty, a version of a GM 10-bolt, but no lockers are available (I have a spare of these as well, but I am keeping it). The Vette racers have Currie or Tom's build 9-inch or D60 pumpkins to handle the HP.
Eventually someone with $$$$$$ will build an IFS/IRS rockbuggy with 9-inch center sections and halfshafts driving portal boxes at the wheels, and make it work (although I imagine the low buck leaf spring straight axle guys will be just as competitive, until the IFS/IRS add active suspension and traction control aids). What is likely to occur is that one of the ATV manufacturers will probably build a small scale version of what works for rockcrawling (with active suspension and traction control) and someone will copy it full size.