That would be ideal, but is not the reality right now, and several things would have to change in order to get there.

As a person that repairs everything I own as a hobby (I would love it to be my job but sadly it pays much less), I can tell confidently the following:

The reason why repairing things nowadays tend to cost equal or more is due to manufacturers actively making products harder to repair.

Soldered parts instead of connectors, glued chassis, glass parts that are imposible to remove without breaking, spare parts that are hard to find, or outright impossible due to being proprietary, and a long list of etc...

Furthermore, manufacturers factor in unit turnover for subsidising unit prices.

Ex. They'd rather charge you 300 for a TV that will last 4 years than 500 than one that will last 10.

Why? Simple math and "Maximising shareholder value".

300/4 = 75 500/10 = 50

You dont know it but everything you own is a subscription service provided by the manufacturing companies.

This is aggravated by a never ending chain of improvements, new models, new trends that keep you in the loop of consumption.

Why would I try to repair my 3 years old phone when I can buy this new shiny one?

They are getting richer by the minute while the rest of us is digging an early grave for ourselves, by polluting the world and consuming non renewable materials at a insane speed.

Not everything is bad though.

In Europe they introduced a "Right to repair" law, that force manufacturers ensure spare parts for at least 10 years and provide repair service at a reasonable price.

That's a great measure that should incentivice companies to make products more repairabld!