First off, welcome to the forums!
Although the razor's seen a lot of honing, there's a lot of metal left and nothing to stop it getting back to full use. I'd probably spend $15 to $20 on it, depending on how rich I was feeling that day. It would probably be a good one to try restoring but as I'm rubbish at honing wedges I'd have to get somebody else to do that bit. If you give it a go, be sure to post pics - good luck!