That's like saying if new homes last as long as they used to, builders would be out of work.
Like your old fridge - if you had to recharge it with R12 freon today, you would find that it would be cheaper to buy a new one.
And that is not because of the labor cost - it is because of regulations.
I know of a number of scientific endeavers, in the same veign, that are conducted oversees - because you can't legally do them in the US, under any circumstances.
Well, no. Nowadays, a home will likely become functionally obsolete before it ever decays beyond repair.