There are at least two clear indicators when repeaters are no go:
1. You need url for each item
2. You need hundreds or thousands items
Performance wise (in my knowledge) repeaters are pretty much same as having one page reference and you access the values of that other page. That is what repeaters does under the hood.
So while you could create news-template and have news-items as repeater field there, I don't think that is a good idea. No urls for each news item, not fully scalable (on UI side, from db/api it is the same) and you lose lots of flexibility on API side, ie. $pages->find("template=news-item, limit=10, sort=-created");