I think if we could go back in time and actually watch, a very high percentage of trailer blowouts NOT caused by an impact with road debris are caused by the pressure getting low first... You simply don't notice when a trailer tire picks up a nail and starts losing pressure, you only notice when it comes apart...
I lost one on a snowmobile trailer I bought last fall. I never heard it go, and since it has two torsion axles, it didn't drop onto the rim. A nice gentleman let me know the tire was "flat" (Shredded, actually...) as I came into town... I had looked at that tire in the mirror during a turn not 20 minutes before that and it looked fine... My guess is that it was already low, but I just couldn't tell because the rear axle was carrying the weight. Yet another reason I don't care for torsion axles when used in pairs or triples...
IMO, TPMS is a necessity if you want to avoid changing tires on the side of the road, and the damage that goes along with a tire that comes apart... There are several "solar" tpms setups on Amazon for ~$50 that I keep being tempted to try... Several have more than 50 reviews, with little negative feedback, and good results when used on trailers. Sure seems like cheap insurance, and catching a tire that's starting to get low before it comes apart is so much easier than dealing with one after it's shredded.