Not familiar with that engine, but if I was going to make decisions about it, I would do the appropriate tests first. Like a compression test and checking the computer for any codes.
In general, does it run OK? Does it always start OK? How many miles will it go before you have to add a quart of oil? What is the smell like? If it is dripping something, what is it?
With today"s computer managed engines, often problems can be diagnosed from the electronics with a scan tool. And maybe it would be worth it to go to the Jeep dealer to have them run a diagnostic on their expensive and sophisticated machine. Your problem might be something that is relatively minor and inexpensive to fix.
The decision to replace an engine, rebuild an engine or get rid of a vehicle usually comes down to how the rest of the vehicle is. If the vehicle is in good condition, it might make sense to replace a bad engine.
But first I would figure out what is wrong. I would wonder about valve seals if the compression is good and there are no exterior leaks. I also would wonder if there might be some kind of problem with the PCV system. Maybe the catalytic converter is bad. Or it could be something else. Engines last much longer these days with fuel injection than they did with carburetion.
Often a machine will run a LONG time after it starts using oil. Oil is lots less expensive than replacing or rebuilding engines.
I hope you can figure it out and make it work OK cheaply. Good to see you posting! How is Miss Minesota? Good luck!