Actually, the shaft can be reconstructed. The upper race, bearing, and the entire shaft itself (with the worm) can be removed without upsetting too mightily the "setup."
I would rebuild it. While there seem to be plenty of steering shafts in the world, the number is finite and if you have a satisfactory worm/limited free motion, it might be worth more keeping together as a unit.
Technically, the worm and sector SHOULD wear to a better and better fit - assuming well lubricated and God is willing and the steel don't gall. To introduce a new worm to an existing sector is asking to do a setup from scratch (not a big issue but best done in a bench vise) and hope the wear gods favor you. (some have been known to use bluing and a dremel tool to change worm architecture in a fundamental way to get better or centered lost motion.)
However, not everyone has the time or the tooling to accomplish such a task. You do as you can, I'm sure.
(Heh. Actually in thinking this out, this steering shaft end replacement methodology makes a better repair than the replacement thread kits that the vendors sell to fix broken/mashed threads on the steering wheel nut. I may explore this option on a couple of steering shafts I have which have issues.)
Joe K