Peeling paint doesn't prevent a train from running in the here and now; knackered motors flashing over and failure to meet RVAR will.
The main problem was the failure to get this wrapped up years ago and the glacial pace of CLIP works - now, TfL don't have the time (let alone the budget) to do a full refurb.
I do agree.
But, I also think it's another example of managed decline, can kicking and penny pinching.