You have any interesting ideas for a styrofoam worm bin? I know of several people who are using them. It would be neat to see your bin when you have it set up.
Nothing groundbreaking just setting up an omaha steak cooler like a normal rubbermaid would be. I have seen them often out on curbs as trash. They are very sturdy and have always called to me to be repurposed.
I have read that styrofoam is not good for long term use (not sure how long "long term" is) because the worms will eventually destroy it. Styrofoam will, over time, absorb water and, consequently, bacteria. My guess is that the worms tear up the foam chasing the bacteria.
The styrofoam is ok. Eventually it will need to be replaced, but should last several years. I do know that it does grow some moss on the surface, but not anything harmful. And any bits the worms manage to "chew" off seems to just pass right through.