Very nice razor you have there. The blade surely looks that you will get a nice shaver of it. Little hone wear but nothing serious. I like the shape of the blade.

What it comes to etching it will surely get off if you want to make a mirror finish. I would try to clean it very very carefully with some mild paste like autosol (or just usual car wax) and with hands only. No Dremel here unless your goal is to make it mirror.