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The bit wears, but not that fast I found (I think I bought the axminster ones rather than screwfix) - I used the same one to do three rooms of walls and ceilings.
There is a knack to not attempting to keep driving them after they disengage. I find a slight sideways pressure on the drill is enough to make it pop off and away from the screw once done. I have not had any problems with damaged screw heads.