Tito is still around because he's very difficult to stop. Only Chuck did it, other losses via stoppages were very long time ago when he was just a kid. At the same time, he hasn't stop anyone himself except Ken, so it's kind of weird. I want fights ending in dramatic fashion and so far Tito has displayed only his ability to survive... but I guess it's the best he's capable of. It would be fun to see him fighting in Strikeforce instead of UFC where he can't do much anymore.
I don't think his still being around has anything to do with his durability in fights, or indeed any aspect of his fight game.
My personal opinion is that he got a fairly lengthy contract purely because he is a big name and was the ultimate love to hate character for many years.
Dana/The UFC no doubt so huge potential to make money off his character by putting him on the TUF with Chuck and figured they could create interest and money from making those two fight a couple more times.
Tito's handling of the cameras and fans is what makes him a big name still, his success in the sport has decline years ago. The last relevant wins I can remember him recording was over Forest and Vitor, both split decisions and both over 5 years ago.
To me, with that sort of fighting record over the last 5 years if he was not a big name because of his persona and mic skills he wouldn't be anywhere near the UFC right now. He s just a fans favourite (hate figure) who has a drawing power because people know him and what to see him (get knocked out)
The fact is that type of pulling power can only last so long wthout actually doing something in the cage, Tito lost the last of his power to attract the attention of fans when he pulled out of the Chuck fight (or if there was some left Forest beat it all to dust) so now it is just a matter of finishing his contract on the undercard and he will be gone have no doubt.