A shop near me is overhauling a 206 for Civil Air Patrol. New engine, cleaned up with zinc chromate, new glass, new interior, new paint and new avionics suite. Much cheaper than buying a new 206...and considerably lighter, which is good given summertime DA's. They have a new, glass 182 that weighs the same as that older 206, BTW. I'll take the old 206, please.
California Highway Patrol put 10,000-14,000 hrs on their 185's before buying new 206's. There were a lot of folks who wished the 185's stayed, BTW.
This method of "recycling" older aircraft either with good maintenance along the way or via a complete overhaul seems to be a reasonable path given the need for good training aircraft and/or the cost of replacement with appropriate new aircraft that might not exist.
My corrosion-free, 1971 185, with only 3,600 hrs, will outlive me by a wide margin.