I would tend to agree unless it is a titled unbent frame. Everything attached to it is expendable and therefore replaceable. In my area, the price for anything more iminently savable has escalated beyond reason.Nearly All my XS were beaters when they got here. Some were when they left too.
I don't have show bikes but have run the full range from pigs ear to silk purse.
this one was dug out of a field. Literally had to dig the tires out of the dirt.
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My judgement; it was too far gone, motor stuck, parts only.