Exactly so. The buffer-smeared stamping and ashtray-hammered rim being the primary show stoppers in this case, with possible bowl sanding of the right side resulting in a partially erased ring adding to the heartbreak (hard to tell if that's just impacted crud and/or photo blurriness, though.)If you define restoring as "returning it to original condition" that pipe is probably beyond that point. It could however be reconditioned and become a very nice example of the type. Today the words restore and recondition are often used interchangeably but they really are not the same thing.