There are wooden boats and there are wooden boats... Some are worth restoring but no matter how much you re going to spend on an wooden pacemaker it will never be worth anywhere near the money it takes. It s not a Trumpy. It s like attempting to restore a 70s or 80s Chevy caprice... It will cost you just as much than restoring a 60s muscle car and won't be worth anything.
The big problem with woodies is that once they get to a point of disrepair, they basically need to be totally rebuilt. Replacing a few planks and frames just doesn't work.
Always sad to see somebody's dream fall to pieces, but it is a very familiar story.