True, if I was buying a car, and the dipstick was milky, I'd be afraid of it.

however, I also know that it's not a guarantee that something is broke. moisture is normal from combustion. moisture in the oil makes it milky. a lot of short trips, a very humid climate, drastic changes in weather in a short period of time...all can add to moisture in the oil.

just be sure the PCV system IS working, and avoid short trips, and as said, as long as you're not losing compression anywhere, coolant, plugs are looking good, I'd run it.