A 10/22 is a popular gun for a "emergency preparedness semiauto .22", probably the most popular in that category.
If it is in good shape (as in well cared for and 47 years old) then $150 is a deal. Like any "emergency preparedness" thing, inspect it, test it, find out what kind of ammo it likes, then cross off the "emergency preparedness semiauto .22" from your list because you now have that.
Many people have good suggestions here. Is a plastic stock better for this purpose, perhaps, but does that mean the wood is a hinderance, of course not. Take care of it, like you would with any item with "emergency preparedness" attached.
A trigger job on an old 10/22 should take an hour or two, not a week IF you feel the need to do that. Won't the new Ruger factory aftermarket trigger packs just drop in, again, if you want? It's not a match rifle, its supposed to be reliable and rugged, and in 1978 Ruger built that.
I have many .22s, some new, most old. All as just as functionable, durable and reliable as the others (I don't see the need to collect economy grade .22s. but I don't focus on >$1000 .22s either).
I have some 10/22s and some nice (rugged) bolt action .22s, I would be hard pressed to pick one over the other form THIS list:
10/22 (this one is 30 years old)
1 of my 2 TOZ-78s
One of my CZ 452s
Frankly if it was hitting the fan and I told Zvenoson to pick one of those whatever he got would be fine.
My 3 most "Emergency Preparedness" rimfires:
I like bolt actions so I lean towards them, but a 10/22 is more than adequate for this need. AND, I would be OK living in a bolt action "Emergency Preparedness" world. But I understand not everyone would, and that's fine. (To be clear, I am not against any semi autos for this hypothetical world, my collection has more bolt actions so I would pick from it should the need arise).
The 10/22 has parts availability in it's favor but the TOZ is more accurate, probably will never need replacement parts, and as seen a bit more compact. (How many of you have broken a rifle? And form that, what did you learn, it was a crappy rifle or the part was easy to source/replace, or something else?) It (and most bolt actions) are probably easier to use if you loose the magazine versus most semi autos. There is "good enough" (which he 10/22 is probably at the top of that list) and then all the personal preferences.
Are those my favorite .22s, well if I had a favorite I'd probably have only 1. But for THIS task those 3 are all better than "good enough".
So grab the $150 10/22 before someone else does, test it out and enjoy it for that purpose. All the $$ you saved will pay for the ammo you just bought.
Oh, another "emergency preparedness" hint:
Every time you buy ammo online (even if you are buying .22 ammo), ADD 1 case of "emergency preparedness" .22 ammo to the order. The $35 extra per order, each and every time is not hard to budget, and there you go. For ME, that is whatever
good (not match, unless the price is crazy) .22 ammo on sale with the dealer that day. Probably stuff you have used, or 1qat least stuff with a good reputation, not just "cheap".