The current finish will probably be more durable than a budget powdercoat job. Make sure it fits, then get it running and decide, the tires look a bit thin for "urban" running, from the images I cannot tell the size, 700c or 27".
If you like how it fits and handles, then invest time and $ into refurbishment such as paint. The bike will probably fly lower below the radar as it is than with a fresh powdercoat job. Riding it will tell if the gear ratios suit your fitness and terrain.
Probably not what you wanted to hear, but that's how I see it.