Most change from polymer to steel so that the exposed tip at the muzzle shows it. Aesthetics and a social statement.
Plenty of folks run MIM parts and don't care, but polymer is associated with a time when Styrene was in a lot of inexpensive products and it gained a reputation for being fragile in comparison to the steel sheet product it replaced.
It was a time of turnover in American holiday toys which left an indelible memory in the minds of those who later became the old shooting curmudgeons who despised "Tupperware," another iconic reference. It's still referenced by some in the knife world, a "heavy" knife is given more "quality" points than a lighter one using composites. I would take a G10 and titantium framelock over a cheap brass lockback any day.
I bought a polymer framed pocket gun and frankly don't even know what the rod is. I accept the new "paradigm" in handgun construction, others can't because they let the past override what they could learn about what's available today.
As for changing the rod, what usually accompanies it is a new recoil spring which has far more influence over the cyclic operation. Most don't try the spring first to see if the rod even needs to be changed, yet the rod gets the blame most of the time.