First, you have to consider the “high-low” mixing argument. Denim itself is more workwear than formalwear, which is where the blazer falls in more readily. Mixing “high and low” pieces together has been done forever. The question then becomes, “What degree of “low” do you wish that element to take?”
That ratty pair of jeans you have? Maybe save those for that dive bar you frequent or a casual day. The newer pair of jeans, perhaps consider those instead for the casual dining restaurant or “nicer” places you visit.
As for when I replace my denim, I haven’t had the chance to, yet. I’ve had my Levi’s 501s about 1.5 years and my Edwins maybe half a year. I’m still thinking about purchasing a pair of 3Sixteens in a few months.
I know a lot of people like to just wear one pair every day forever, but I kind of like to rotate them around throughout the week — maybe even working white denim into the mix.
I suppose I’d only throw out a pair of jeans if the crotch blew out or the knee got a hole. I don’t really have a need for jeans that are that worn out.