The kitchen in the house we bought 20 years ago was 30 year old knotty pine, presumably varnished. We painted over it with latex paint. I have no idea what preparation we did but likely light sanding (maybe liquid sand) and washing with TSP. Clearly inadequate. I think there was some cracking of the paint when we repainted 12 years ago, but not much. Now, a few areas are OK and some isn't too badly cracked but a lot is very badly cracked.
Removing the latex paint and properly preparing the varnish would be a massive project. Can I get away with thoroughly preparing the existing surface to provide plenty of tooth, filling the paint cracks with joint compound, sanding, and painting with 100% acrylic latex paint? Is there another alternative to removing the paint? Thanks.