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It can be saved if you're willing to put the time and money in to it. I've started with worse before.

To make the Yay or Nay decision you'll have to start from the bottom and work your way up. Does it have legal papers? (if you need them for a 50 in your area.) Then strip the motor and see where you stand. What will it cost to repair or replace the engine? Then start adding up the cost of all the essential missing pieces. Lights, mirrors, grips, cables, hoses, brake parts, bodywork. Is it still worth it? Not much point in spending more than what it would be worth at market value.

If you've got a salvage yard nearby then you've got a leg up on most of us. Broken plastic can be mended back together if the pieces are all there. The milky clear plastics can be buffed out if they're otherwise sound. Even the painted parts might surprise you after a little elbow grease.

Another junk article by those MotorcycleUSA hacks. You can't put a 125 in with a bunch of 50's and then praise it for the extra power. Regardless of sticker price you have to go apples to apples. Plus they completely omitted mentioning the regulatory threshold that 50's skirt even though that's about the only selling point of a 50 to begin with.

The headlight and the instrument cluster can probably be buffed out if you're willing to put in the effort.

I had surprising results with "Meguir's Ultimate Compound"
--> www.amazon.com/Meguiars-G17216-Ultimate-Compound/dp/B001O7PNNM.

It falls somewhere between the heavy duty boat restorer
-->solutions.3m.com/wps/portal/3M/en_US/Marine/Home/Products/Catalog/?PC_7_RJH9U5230GE3E02LECIE20S4K7000000_nid=MQL0W4QXFTgsH8PTZGX97RglJNTBB9P03Lbl

And "Scratch Doctor", which does almost nothing.

A well used 50 in complete and working order is going to be worth between $500 and $800. The scoot you have still needs some work and you're in for $380 already.

It sounds like the performance of a 50 doesn't measure up to your needs. So add up the cost of the repairs this one still needs and see if you think you can get your investment back. If you enjoy the work it may be worth it for the learning experience. Or sell it as is and move on to something bigger.

I love the Frankenstein rivet plates by the way.

Even if the wheel were bent to hell, There's no way that nut is coming off by itself unless the threads are knackered, or the nut is a mismatch to the shaft.

You're missing something. Are all the bushings and washers where they are supposed to be?