VRF or Ductless A/C air conditioning for century home?

We have a 20+ year old split Fujitsu system that has worked well in our 110 year old, five bedroom Toronto house. But it appears to be nearing end of life (and is energy inefficient).
I assume air conditioning technology has changed/improved over the decades.

For example, are VRF systems just for commercial applications? If they are used in residential applications, are they affordable or cost prohibitive?

Any recommendations in general?