Hey, robot.. I wouldn't worry about finish appearance on your old Starfire unless it's affecting playability or you simply don't like the wear/mojo. I *would* worry about areas that the finish is worn off where bare wood is exposed, though, if that's the case... The wood does need to be protected, especially for a gigging guitar.
I think that's a lot bigger concern for solid wood acoustics, especially tops, where contaminants can adversely affect tone.
Starfires, being laminated top electrics, are at least relatively "safe" from that issue.
Granted I wouldn't want to subject any guitar wood to a lot moisture for an extended period, due to the potential for warping, even with laminations.
My biggest concern is that if the finish
is wrinkling, that means an intact "patch" of softened lacquer is able to easily slide over the wood surface, causing the wrinkles, and indicating it has virtually no bond to the top there.
Why no bond?
Probably already contaminated, best guess is with skin oils.
Those can form a moisture barrier of their own, it is, after all, why the lacquer's not bonding anymore.
So assuming it is skin oil contamination, the wood's actually already somewhat "sealed" against moisture, which makes the finish problem an aesthetic issue only.**
Robotman, try this:
Does a tiny drop of water bead up on the bare wood?
That'll tell you if it's contaminated by oils.
Even then , if you do want to refinish it, there are ways of leaching 'em out of the wood to ensure a refinish will "stick".
In the meantime, I'm about 95% confident it's just an aesthetic problem that
can be remedied.
**Allowing for Frono's valid observation that a refin
can affect tone, although it
could be for the better, and is a far bigger issue with a solid top acoustic than a laminated top electric.