I have a fondness for early specialized mtb frames and have received/rescued several. Got them down to bare metal, sanded and polished and prepped ‘em for repaint only to find another in better shape. Happened like three times lol. So, now I have a bunch of bare frames ready for repaint AND a couple with the paint in good condition.
So, yeah, that hundred bucks can probably go a long way towards a better condition frame, probably even a complete bike.
But, I’d get that one down to bare metal and ready for me to re-paint...