Reel to Reel is cool, I had a few, The problem I was running into 20 years ago, was quality recordings, that were still, quality recording.
They are magnetic, the tapes do degrade. They sure do sound good when the media and unit are working well. They can look great and can have some nice functions, for playback.
There was also a few different formats on the recording, and not all were interchangeable, I can't remember the whole thing. Towards the end of the tape era a lot were pretty standard, though.
Does that one have valves (tubes) and belts? Parts are probably still around..