When Windows XP has been launched, NTFS was certainly much less reliable. Even without being affected by any crashes or other anomalies, the free space on the NTFS partitions of early Windows XP computers would shrink steadily, without any apparent cause, requiring a reformatting/reinstallation after some time.
Early Windows XP was very buggy. While a computer with Windows XP did not require one or more reboots per day like one with Windows 98, failing to reboot it for more than a few days guaranteed a crash.
Only after installing several massive service packs in the following years, Windows XP has become reasonably stable.
Well, i stayed away from NTFS in the Win2000 era because crashes would make your system unusable.
Windows XP was more stable than 98SE, but it did crash more, because it was a general purpose OS used by people playing games. Still can't recall any major NTFS issues with it.
Windows 2000 with XP drivers (edit the INI file to allow it to install) was the way to go ;)