Have I made a mistake?

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Description
I have this table that is wooden, formica top and metal trim. The formica was in really bad shape and was peeling. When I started removing the formica I discovered that the table top was wooden slats not plywood.
Suddenly I am very concerned that I have really made a mistake by removing the formica and stripping all the paint. I know nothing about the table and would like an idea of how old it is and if painting it would be a mistake?
Condition
Damaged
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