I don't think so. I bought a 21 year old cart 4 years ago and just put a lithium battery in it. Everything is still good on this cart, plus my upgrades!
As long as the frame is good, and the other expensive items are too, or planned to be replaced, you are good to go.
Similar to an old car, things will break over time, but the older carts tend to have less parts to worry about - finding replacements or upgrades designed for it may become a challenge.
