There have been three versions of ITIL (not to mention the individual syllabus changes - the latest being as of November 2011), all updated and based from experiences and feedback from the Enterprise space, so to claim that ITIL doesn't update as other certifications do is just not true; I'm sorry, but it isn't.

The point you make about tools is correct, but only to a degree. If a tool acts in isolation how do you know which process you want supported? How do you know what activities you want conducted, and how they're mandated, measured and managed?

I think you're hinting at tools being the best form of process support, and you're dead right, they're a critical factor. But they are not a solution in and of themselves. That's where ITIL comes in.