I'm not sure if those scales are horn or celluloid. To my eye the rust/corrosion looks more like poor maintenance than cell rot. One way or another that black stuff will contain a lot of pitting and the portion near or at the bevel will begin to fall apart when you hone it. If the wedge is heavy enough you may get down to good steel without losing a lot but you'll lose some blade width chances are. I only look for three things in a vintage straight, condition, condition and condition, and that razor fails on all three of my criteria.