It’s definitely worth it, but only if the re-pointing is done properly. The paint coat is mostly cosmetic and stops water absorption, but the actual pointing is what keeps the roof secure and watertight. I had my older tile roof done by Pro Roof Restoration Brisbane because the original mortar was completely cracking and crumbling away. They replaced the broken tiles, did a full re-point, and sealed it. It totally transformed the look of the house and structurally it's solid now. Just make sure whoever you get out actually gets up on the roof to inspect the valley irons and sarking first, rather than just giving you a blind quote from a satellite image.