Hi DTT. Yes, that's perfectly normal for an older pool. Sooner or later it will probably need to be resurfaced. If everything looks good otherwise, I would just keep a watch on it. You may be able to go for several years before resurfacing. In the meantime, you might be on the look out for a good pool company to do your resurfacing. Prices are always trending up - right? So it might be worth considering ... if you should have this done sooner vs. later.
BTW, this can happen prematurely in pools if the Calcium Hardness hasn't been properly maintained. If that's the case, there's nothing I know of that anyone can do to reverse it now.
I have several pools that I take care of that have this same condition. In all but one, the water is perfectly clear. Every now and then, I'll find a small handful of that blue-colored sand in the Polaris bag. In one pool, the water sometimes appear a little bit cloudy after the Polaris has run around the bottom, but eventually it clears up.
You may also want to keep a close eye out for light colored green algae starting to form on the bottom and the upper sides - during warm weather of course. The increased porosity of the pool surface due to the shedding material seems to provide a perfect place for algae to start to form. Scrubbing periodically with a small stainless pool brush usually knocks out any emerging algae. When I do see a little algae, I also step up the chlorine a bit for several weeks and I make sure I'm using a good quality algaecide such as No Mor Problems by United Chemical. Amazon's price is a little high right now. If I shop around, I can sometimes get it for around $15/qt.
Good luck and enjoy your pool!