Sorry to disagree, but I really rate Fender acoustics. the factory set up generally needs a bit of tweaking by a decent luthier. But , I think they're great. I just bought a beautiful one for a pupil, i paid ninety quid second hand. It plays like a dream.

If its falling apart - unless you are one of those people who likes dicking around in a workshop more than actual playing. I'd say leave well alone. new is cheap enough, and second hand in perfect condition is an absolute bargain.