For vinyl playback, one needs a turntable, tonearm, cartridge, and a phono preamplifier/stage.
As one moves up the Rega turntable+tonearm line, it’s common to expect better sonic performance provided that the rest of the audio chain is transparent enough.
…if it makes sense to keep it to play my flimsy popcorn ridden albums of my youth ?
If you upgrade to another table, it doesn’t make sense to retain the P1 unless you want to run 2 cartridges simultaneously. Running your “flimsy albums” only affects stylus wear, likely not an issue.