274k isn't crazy high for a 7.3PSD
Maybe not for the engine but all of the other wear parts. Drivetrain...brakes...electro/vacuum climate control gizmos...door seals.
My DD is a 2000 Crown Victoria with 92k miles. Various things are starting to fail. Nothing too expensive but it is challenging my time/cost ratio compared to a newer vehicle. Mileage issues aren't a problem, fifteen years is in my case.
Paper clips can only be bent so many times, even gently, before the break.