Wow. Looks like they had Pete Townshend cut that hole! It's a Frankenstein for sure. But.... I've seen people do wonders with abused guitars. I'm sure it could be salvaged if someone was inclined to invest the time. Look's like it's been played a fair bit so she must have had some good mojo at some point in her journey.
Or..... at worst it can just be an interesting wall hanger.
If it were mine I'd limit myself to about $200, use my own labor and see what it turns into. But that's what I like to do, it's not for everybody.