The drive has been only been powered on and used for read over the last 3+ years. CrystalDiskInfo reports it’s bad but CrystalDiskMark shows decent read/write speeds. Only wrote to it in the very beginning when I dumped a lot of archives into it. Otherwise, very few actual write cycles which is making me think it’s still ok to use. However, this isn’t a NAS drive and is consumer-grade bought many years ago.

Yes in this case i would not disagree. The overall stats look no good and if it is a single drive then yes. Get the data off.
I take issue with the general statement of yours: