You were right with your description, that is indeed a very tired hull.
I suppose this comes down to your desire for a fresh gel-coated hull. Anything is possible, you’ve just to look at the work on Harry Dwyer’s SR4 by Cockwells Boatyards in episode 15.
If it were me, then there’s a few things I’d look at before making that call. It’s laborious work going by previous discussions on the subject.
1/ Do you have covered area or workshop with sufficient space, power outlets, decent lighting and ventilation?
2/ Do you have the ability to flip the boat, this can’t be done on a trailer. If there’s a console fitted, you could look at getting something like a car rotisserie jig, so you can rotate it, or know someone with a forklift and can put it onto a support frame.
3/ Do you have the necessary skills yourself? This is going to be a couple weeks of sanding with power tools, repairs, more sanding, and that’s before you even get to applying the gel coat and polishing. Like most things, the preparation is everything.
4/ Do you have the time? Your rib will be out of action, as once you start it’s a one one-trip.
I suppose before you attempt anything, have you tried a small section to remove anti-foul? You need to determine what the base condition looks like. That in itself is difficult with the rib on a trailer with inadequate space to work.