For two tanks of petrol, I'd tag it and bag it anyroad, good or bad--it'd make for a great modding platform, learn how to work on an axe, a junker to throw in the back seat and not worry about getting banged up on a weekend out with the mates... I picked up a Lyon by Washburn Strat copy some 15-16 years ago for about that, it's still going strong, has been my backup guitar at many gigs, first guitar I ever put a killswitch on.
Seriously, for 50 quid, I'd jump all over it, with almost no exception (Maestro and First Act... those arenae even worth smashing for firewood).
Course, others may disagree with me, but that's my 2p worth on it. Get it, mod it, learn to work on guitars with it. Worst case, you're out two tanks of petrol, or a fairly nice night on the town with your partner--which, I mean, it's the 'rona time, that's not really happening any time soon--so yeah. Snag it, grab a toolkit from StewMac, AmazonSmile, or wherever (if you're going to use Amazon, use AmazonSmile), and learn on it.