No, not really. Compressors that were formerly expensive are still expensive, and largely just as good (Ingersoll Rand, ie).
Makita makes decent mid-range compressors (to give you an idea of price, mind you...). Anyone's oil-filled compressor will last the lifetime of several oil-less compressors. I refuse to buy any of those portable battery powered compressors, simply because, while they're quiet, they're definitely not a lifetime tool...and I don't need quiet.
Shop compressors have two nasty failure modes: rust (as alluded to above, and why you need to purge the tank at the end of the day, if you want it to last a proper amount of time), and pressure sensor failure. For the second, you very much hopefully have a working relief valve, which will blow before the tank does--see above. Being in the same room when even a 5-gallon tank blows is...extremely unpleasant. You can simulate the kind of noise to expect by opening the dump valve...it's loud/the pressure wave can actually disorient, if it is in it's own separate closet. I wouldn't hazard where "the line" is, but anything rupturing is bad news, because they usually don't just rip open (see: rust). Mechanical failure is also a distinct possibility with neglected compressors, where a belt will snap/a pulley or flywheel may self-destruct.