It's a chain. It's a consumable part in my opinion. 1500 miles is a fine life. And a 1/16 of an inch is not much. After a year on my single speed the old chain is full link longer than a comparable new chain. But since I don't have to deal with shifting and gears I really never notice. I just replace it as part of my end of winter ritual.

The one you have will last a longer, but get a new one now and you might get more life out of your cassette and chainrings. I replace he chain on my road bike about every 1500 miles. Cassette 3000

Chains are relatively cheap.