As a bridge inspector, I can say this. For a fracture critical bridge, such as this, the inspections must inspect each connection element (bolt, plate, weld) etc visually for signs of distress.
Either this was missed during the inspections, or it showed no signs of distress. If the plates were underdesigned from the beginning, I cant imagine that no signs of distress couldnt have been noted, since it stood for 40 years, and most likely saw more load than was on it that day it collapsed. Something doesnt make sense.