>>583476>worth putting time/money into to restoreIt depends. Axes are cheap, this isn't some hand smithed rarity - it's a decent mass produced tool. Similar can be bought for $50-100.
It doesn't look like someone ruined it with an angle grinder, the blade should be properly hardened no matter how old. In fact these things get harder with lots of use. I don't see any cracks and the notches in the blade are minimal.
A professional should fix the blade for you. That is if you're planning to give it serious use. If you just want to have it around then a perfect edge isn't really needed. But more than 3 trees/season and I'd consider it. It definitely needs a serious sharpening and some rust treatment around the back.
Putting a handle on isn't that hard. Make sure the inside of the eye has an even surface for good contact with the handle. Watch some instructionals, there are a few basic mistakes to avoid. In short: hickory, grain front to back, carefully whittle down to fit head snugly, saw down the center, fix head, fix wedge, trim, insert metal wedge/s WITH grain.