To refinish or not to refinish? That is my question

[Wisdom]

HI ALL!

I have an old beat up Yamaha 12 string that is basically just for fussing. The top is soft and all beat up with nicks and scratches. It's been played hard by an elderly woman that payed at a church. I'm not sure why it's so beat up, but I imagine that she did not have a case.
Anyway...
I was thinking of sanding the finish off the top and the neck and maybe add some stain and finish with oil.

I know the thought in the player world is that if you not happy with a guitar you get a new one. I'm wondering what all the build folks think.

Should I?