"iPhoto cannot be opened because of a problem"
Based on the error message, it sounds like MobileDevice.Framework is necessary for iPhoto (probably because of its ability to pull photos from a mobile device.) I'm inclined to believe that since it's crashing at launch, this library needs to be loaded at start time. While it might be possible to maintain two different versions in a separate location, figuring out how to point each application to the right version really doesn't seem like the best idea to me. My recommendation would be one of the following:


Update macOS and...


Switch to Photos (IMO it's actually much better than iPhoto.)
Continue to use iPhoto. Though it won't launch normally, if you right click it, hit "Show Package Contents" and navigate to Contents/MacOS/iPhoto and double click, it should launch.

Downgrade iTunes and restore your library from a backup (either Time Machine/whatever backup service you use, or the automatic backups iTunes creates when upgrading) or simply reimport your music.
Wait and see if Apple releases a new version of iTunes without this issue.