The lutherie and concept of these instruments is much aligned with the world of violins, double basses, cellos and the like. The folks that work in those fields know and understand how and why they work, and respect these methods. There are fine luthiers that can return this bass to its original, more-than-excellent state, whereby she would be, not simply playable, but very fine, class instrument, both acoustically (although not in the sense of playing in an acoustic band, just splendid tone...) and amplified, within the remit of 'old school' repertoire. The work needed is not difficult, for a suitably experienced luthier (indeed, it's almost their daily lot...), and will render the bass fit for purpose for at least the next half-century. Given her present state, it behoves the owner to ensure that she can give of her best for future generations. No short cuts, no half-measures, no bodging. It wouldn't necessarily be expensive, either, in the right hands. Done 'wrongly' the guitar would be destroyed. Think of the children..!