There is truth in this statement. My wife wanted to get a new washer/dryer about a decade ago. Both have had multiple problems and the dryer was replaced with a $30 Craigslist model. The washer is still limping along and needs some welding done (again: it keeps shaking itself apart). I haven't welded the washer back together yet because I haven't gotten around to fixing the Hobart wire feed welder I bought a few years ago.
She wanted a new stove: The oven doesn't work and I need to fix it, but haven't gotten to it yet.
We bought a new riding mower 11 or 12 years ago: The transmission only made it about 5 years. The lawnmower has now been replaced by a 1953 Massey-Harris Pacer with the Woods belly mower and a 20 year old Craftsman riding mower as well as the old lawn mower getting combined with a couple of other donor mowers into one working mower.
I'm finding that I have better luck keeping the vintage stuff running than I do most of the new stuff. The vintage stuff also needs constant attention, but since it is old, I don't get nearly as aggravated when I have to make repairs.
Since retiring, my hobby has been “Old Arn”. The acquisition, restoration and use of older woodworking machines of US, Canada and UK manufacture. None of that Chiwanese for me, except for the SawStop.
Today, I brought home a Rockwell Delta L40C 14” radial arm saw that I acquired via an online IRS auction. It needs some work, and I plan a total restoration, but unlike what you buy today, it is repairable a good for a long time.
Also, I get a real sense of satisfaction rescuing these old warhorses from the scrapper.