A smart adjustable bed combines a mattress system (air chambers), pumps, sensors, and often an adjustable base with motors. That means multiple failure modes: leaks in air components, pump wear, base motor issues, and controller/sensor faults.
Repair can be very cost-effective when the problem is isolated (a hose connection, a single air chamber, a pump module, or a base motor) and especially when the bed is otherwise comfortable and structurally sound. Replace becomes more compelling when multiple components are failing, comfort has degraded, or the repair requires large assemblies and repeated service visits.
Because this is a high-ticket item, consider "total ownership cost": if repairs are becoming frequent and sleep quality is declining, replacement can be justified even if a single repair is under the threshold. Also weigh warranty/proration status carefully.