There is a chance of it going bad, but most don't.
The joy of an electric PC is that you can set it and walk away. No need for constant monitoring like a stovetop model. IMHO, worth the extra money (and this is when you an get the best deals on them.)
If you do decide to go stovetop, definitely get a new one that is compliant with all current safety code and has a new gasket and pressure relief valve.