Ridgid's 12-gallon NXT wet/dry vac is a garage and jobsite staple for debris, water pickup, and cleanup after sanding or drilling. A stuck power switch from dust ingress is often a straightforward repair-cleaning the switch area, replacing the switch module, and improving filtration can restore normal operation cheaply.
Repair is worthwhile if suction remains strong and the motor sounds normal, because many "failures" are actually clogged filters, blocked hoses, or worn gaskets. Replacement becomes more appealing when the motor is overheating, the housing is cracked, or repeated electrical faults show up after service.
Using a representative Home Depot price for a 12-gallon NXT model, the repair threshold is about $40. If a repair estimate exceeds that and the vac is heavily used, replacement is often the simplest, lowest-friction choice.