I'm at 216K in my "02 so I think i crossed that bridge! As others said, the big question is if you like it. There are kits and aftermarket stuff that make it easy to fix these vehicles. And mine is still fun and easy to drive. And looks good because wax is cheap!
Downsides: I found sometimes there's days (3 weeks while my husband replaced ALL the brake lines) when it's being repaired. For me, that's not a problem as I have another car.
I find repairs can happen in clusters. Some people will say that's a sign- "its toast will just break down all the time now"- but that's not true. I have clusters of issues followed by months and years of relative peace.
Also, even the best repair shop will make a mistake: bad part, poor install. I had to accept that my Dealer whiffed on a differential replacement. Such things happen.
If, like me, you're pleased as punch to show off your truck to your friends and talk about all the trips and jobs you did with it, you may as well fix it. These trucks will go 300K, just check whats for sale out there.
Also now is a bad time to buy a new truck. Sales are down but prices are up. Wait for gas prices to spike or electric trucks come out to compete with the ICEs, to bring prices down.