32 years is pretty good I have seen even older ones. When I had the same issue with my water heater about a year ago I was surprised to see a 1996 date code on the old tank. Mine is a 50 gallon 4500 watt, and it had both the hot and cold entering on the top of the tank, there was thin plastic tube inside the tank that I suspect took the cold to the bottom of the tank. This tube had cracked and broken and little plastic pieces of it were getting stuck in the filters on my sinks.
With that tube broken the cold water coming in was too close to the hot going out so my amateur diagnosis was the hot water just mostly sat in the tank.
After the tank got removed it appeared to be in quite good condition and my plumber commented that if I wanted I could just replace that tube, another metal rod, and flush the tank, but the most expedient solution was total replacement.