Actually... yea I think I would. Depends what it cost to buy the watch but the dial actually looks ok, definitely seen many worse, the case isn't great, but it still has the brushing present on the front face, and while there are a lot of dings, they're relatively small dings, not major gouges. The pushers are there, and intact, they're just filthy. The movement is mucky and has some corrosion, but its actually not that bad either, my submariner was way worse and was salvaged easily. If an independent watchmaker put the movement back in good order, cleaned the whole watch of gunk and crap, and replaced the crystal, then gave it a light polish, it'd be an ok watch IMO.
The key is what does it cost, as-is? Because as you know, you're going to have to buy it very cheap to make it viable.