Is $1,000 to reseal the driveway a fair price?

I have a 6300 sqft driveway going through some woods downhill. When I bought the house 2 years ago, it was smooth, but now it's covered in alligator cracks and crumbling on the edges (hundreds of feet of deep cracks). A friend suggested they dropped a fresh 1" layer on top before selling. The driveway is definitely cracking in a lot of places, but it's sinking into the ground and still seems to be stable. I'm wondering if it's a good idea to wait another year or two until the driveway is actually starting to crumble, or if there is any danger or waste in waiting until it's in worse shape. I'm concerned if letting it deteriorate further will make the replacement more expensive down the line.