Oh no! In my book repaints are aok. You just don't want to sand them to much. Leave the nooks and crannies of hook and fish marks in the wood in the plug. I have an original Mike Fixter that I have repainted many times. That thing is a born again killer It has three forties on it and 1000's of other fish. The plug has only one eye left she gets fresh paint anytime she wants it. You do have to do a sacrafice to the lure gods though. Usaully all the change in your pocket is tossed in the surf to apease the gods.
Plus this group of plugs w were obvidously never used by someone that could catch fish. ( Bought on e-bay) They hadd few marks in the wood and the paint had either been painted over
or peeled off from not loving them.
Now they are sexy.
Funny part after I posted the picture I realized I hadn't put eyes on two. They are now seeing fine.