At 200,000 miles a lot of the parts are approaching their end of life. It could be that so many little things go out at once (belts, hoses, timing chain, sensors, fuel pump, injectors, shocks etc) that it's not worth fixing, or it could be the piston rings or bearings go bad and it requires an engine rebuild which may not be worth doing with all the other little things falling apart on it.
In 2014, 1.7% of cars sold on the used market in the USA had over 200,000 miles. That tells you most cars don't make it that long. But some even hit 250,000 or more without needing any major repairs it just becomes more and more unlikely.
BTW what happened to OP?