They're dirt cheap and have been for the better part of a decade. If you're looking to upgrade, cost isn't a reason not to.
• http://wiki.alpinelinux.org/wiki/Linux_Router_with_VPN_on_a_...
• https://wiki.alpinelinux.org/wiki/Linux_Router_with_VPN_on_a...
My printer is in a VLAN which has no route out over the Internet. (The second link there uses VLANs).
It does not protect you from compromised, malicous (IoT) devices. Think about a network printer doing ARP spoofing and MiTM-attacking your VoIP phone or IP cam. E.g. googeling immediately turns up vulnerabilities like this [1] one. A properly configured VLAN setup can help to prevent or limit this threat.
[1] https://www.scmagazine.com/home/network-security/hp-officeje...