Externally, the dryer looks fantastic especially for its age.
Inside the drum and rear bulkhead, it's worn because Whirlpool used the cheapest/thinnest paint in the industry. My 1981 Kenmore dryer only had a little paint about 1/4" to the left side of the baffles. Everywhere else (entire drum and rear bulkhead), was completely GONE by 2003-ish. They finally switched to a better paint and different color (enamel?) around the late 80's/early 90's.
The machine will still run perfectly fine, it just looks tacky until it completely wears out everywhere.