It's very common for cherries to have disease and insect issues, and typically the trees don't live much longer than 15 years in the Eastern U.S. due to the high summer humidity. (In the Western half of the country they often succumb to drought stress from not being watered)

Grafting creates its own set of issues and only takes away from the tree's lifespan since incompatibility issues start showing up 10 years down the line (from differing growth rates between the rootstock and scion).

You can prolong the tree's life by giving it extra care, and inspecting it for problems throughout the year, but it may be a little late for that now with all the dead wood, which tends to invite more problems.

Exactly! That isn't a cherry treee.

And those holes were caused by a bird called a sapsucker. Perhaps choose a replacement tree that isn't favored by sapsuckers since you have them in the neighborhood.

Thank you! Great info! Good to know this isn't actually a cherry tree. It was a guess on my part. We'll have to pull this one and start over elsewhere. Too bad it's such a lovely tree.

I had a similar tree in my yard, had an arborist look at it. Found out it was at the end of its life, so we cut it down. The owner of our tree service is a certified arborist, he helped us identify and make good decisions on the trees in our yard. Many were at end of life or had other issues. You might want to consider contacting one, they can advise and treat or remove if necessary. PS, your house is gorgeous!

Remove and replace, maybe with a cercis redbud or some sort of dogwood.