Only you can decide if its 'worth' it.
Please avoid posting/asking about your boat/project in other members topics. I deleted you posts in the Thompson SeaRage topic.
You own it, so dig in and tear it down.
Short answer is no, its not worth it, as Scott stated ^^^
Its a mid 80s Bayliner, and always will be, even if you build it back perfect to original (or better) condition. Its likely you'll spend 1X-3X more rehabbing it then you'll be able to sell it for later........
BUT, if you spend 25-4500 rebuilding it, it'll likely be a much better boat then any other similar boat you could buy w the same investment. A 2-5K boat is often going to need a little or a lot of work to be water ready and dependable. Plus instead of 3K all at once, you'll spend it as needed, spread out over months/years.
As before, you already own this 1, so if you like it, dig in.... That will cost you very little to start.....