So if the bearing goes, this is a throw-away?
Make that plural. There's at least 4 bearings in it, and probably 6.
A bad bearing doesn't necessarily make it a throw-away. You can learn the rapidly-disappearing art of power tool maintenance and repair.

You should find and fix the problem before it makes something else break; i.e., if it's one or both of the motor bearings, replace them before they seize, or before they cause extra wear on the brushes and commutator, or damage the armature.
It's probably got a mix of ball bearings and sleeve bearings. The bearing at the commutator and brush end of the armature is a common culprit. Also the bearings on the belt wheels, which are probably sleeve bearings on your sander. The other bearings are generally more protected and don't fail as often. Hit those places with some WD-40. Ideally, you'd want to take the wheels off so you can get to the wheel bearings. If WD-40 stops the noise, you've found the problem but haven't really fixed it. Next step is to fix it. Sometimes sleeve bearings just need re-lubing (depends on how long they've been running without lubrication); noisy ball bearings should be replaced.