1994 toyota landcruiser rod knocking

Hey guys,

I took my 1994 Landcruiser with 225XXX miles on it to a mechanic im not sure i trust all too well.
He ended up quoting me saying i would need a whole new engine and it would cost upwards of 3000$

I know cars pretty well and the whole reason for the rod knocking is that the oil pump failed on the freeway and by the time i noticed and got off there was rod knocking.

Wondering if that all i would need is a new oil pump or should i swap the engine?

The mechanic told me that whenever you have rod knocking its metal to metal contact and just a little rod knocking would end up bad down the road if i were to just replace the oil pump.

Is this all true, what should I do?

Thanks
Trevor