Personally, I don't think it's "worth it" to go through the process of painting a bike. I'm assuming you mean to DIY, which involves taking everything apart, getting the existing paint off, then repainting, then putting everything back together.
It can be a fun and therapeutic process, with rewarding results, but for me it would require me to set up a dedicated space for the project, which alone would not be worth the effort given my living situation.