AliciaN,
Well blowing of the gaskets for a PHE is obviously not an acceptable criteria. You can still have a TSV for blocked outlet which can be set at a pressure well below the design pressure or the pressure at which the gaskets blow whichever is lower, so that the TSV relieves the overpressure before the pressure accumulates to a value which blows the gaskets.
Rupture of gaskets means the PHE needs to be taken out of service and expensive gaskets need to be replaced before the PHE can be taken back in service. In a worst case scenario blowing of gaskets can lead to uncontrollable release and lead to a fire and safety hazard specifically if the released fluid is toxic or flammable.
To conclude, having a TSV can prevent the aforementioned scenario.
Regards,
Ankur.