Curb bike, left in the bulk trash area, been there for over 48 hours and no air in the tires so no one rode it there. Yeah, it's a Huffy. Everything is in good shape, no rust, shockingly good tires. Remove some labels, some adjustments to the brakes and derailleurs and it'll be ready for donation.
A bike of that tape, if
that's all that was required then it'd seem a good candidate for a donation-grade bike. Some kid would enjoy it, I'm sure, someone who didn't have a bike. Once of the nice things about bike co-op type places is they can usually get something like this to someone who needs it ... or, use it as a "project" platform for people learning to wrench for the first time.
I might have picked it up and brought it to the co-op in my area, if I thought they could use it.
For me, as with most people, the dividing line is where I believe the resulting value won't be worth the effort. (The line is different for everyone. My own Trek 970, $100 frame w/ original parts, but I've ended up replacing every single part on it. Probably not a value, but it still turned out far better than I had hoped. Worth it, to me.)