That's definitely seen some action, for sure. Not sure if it really needs a full restoration. Maybe just removing the leadpipe to plate, and also pulling off the bottom bow to get all those dents out. It looks like the keel is a bit dented in as well, so they'd have to pull the guard.
I wonder if the original leadpipe was destroyed, or if they just didn't like it? The path it takes seems to be quite different from the original leadpipe.
Sterling / Perantucci 1065HGS Euphonium, 1952 B&H Imperial Eb Tuba, and a bunch of trombones.