That Z/10 looks like it was taken down to metal and then parked outside?
The condition of this car kinda reminds me of another members car on here, that looked like a 20 footer maybe even a ten footer when he bought only to uncover a bunch of rust and shot patch panels underneath. The work looks about the same roughly. If this car was media blasted or dipped, you would probably double the value right there. Then you could see what you have to work with. It doesn't look ir-repairable to me, but you would have to be passionate about it to get it done the right way. If you have a good title, and good VIN and trim tag along with a garage space to blow it all apart, that would be all the encouragement I would need.
This is assuming you got a good deal on the body, which may or may not be the deal killer here.
It would be cool to see it resurrected from the dead, Good luck with it