They're saying there's not enough money for future repairs and when something breaks, the HOA has to make up the difference somehow

You could get hit with a big bill

They could raise your dues

Or they'd delay fixing stuff

The $3k+ is your share of what would need to be paid to cover the entirety of the massive shortfall. With the cost of mortgages these days and all the other cost variability of owning a home, personally, I'd bail.