Vibration or bending can "work" the copper, making it brittle. It's pretty flexible stuff, but if you take a piece and bend it back and forth a few times, you'll notice it will get hot, then snap like a twig.
As long at the metal hasn't been "worked", I'd rather have it than hose for steering. Especially the "old" copper, in which the tubing had a much thicker wall.
That said, I hate flare fittings on a boat. Every time I've dis-assembled one, I have found it to be brittle, probably from "working" through vibration of the joint.
I guess corrosion is an issue, as it is for any metal on a boat. My steering lines are only exposed to the bilge for a short run, and aren't in bad shape for a 30 year old boat.
I have seen a couple of Hatts where the copper fuel lines (running low in the bilge) have failed. I don't know why though....could have been from being disturbed over time by work in the bilge, or corrosion. Would be interesting to know, but it became something I looked for during pre-purchase inspections.
fFNow, if I had to pull new lines, copper wouldn't be on the list! It's a lot easier to pull hose, and I think newer, thinner walled, copper tubing would be exposed to too much "working" in the process.