The B-1, despite its potential usefulness, should have been retired long ago. Its terrain following capability and low-supersonic speed do not give it any extra survivability over the B-52, especially while using cruise missiles. But the worst part is the aircraft is suffering from severe unserviceability issues. The aircraft wasn't designed for a long and active service life with many take-offs and landings. In 2019 the fleet's readiness rate was 9%.
The aircraft has been on a special maintenance program called PDM for decades. Regardless of that, in 2018 a B-1 with callsign Hawk 91 had an engine fire. The crew didn't eject because some of the ejection seats didn't work and the ones with working seats didn't want to leave their comrades behind. They could hardly land the aircraft at Tinker airbase.
After this PDM was increased from 5000 hours to 14000 hours. They literally disassemble and re-assemble the aircraft every 5 years. 40% of the personnel in Tinker airbase work for maintaining the B-1s. Despite these, the aircraft is banned from low-level flight, one of its main points. Also, it is restricted from flying more than 300 hours per year. Still, none of these measures allow it to have a higher than 10% combat readiness rate.
In short, the B-1 is a walking corpse. It needs to be retired.