The damage does not seem excessive from the picture and I would definitely give the repair a shot.
Back in 1967, while driving at night on a road in the process of being paved, I saw a black area and assumed it was a hole. Being too close, I tried to straddle an area that turned out to be a raised manhole cover. The bottom sheared almost totally off the pan and I was left with no oil and a mangled pan.
After having the car towed to my home, I removed and straightened the pan as best I could before bringing it to a local shop. After welding the original pan pieces, the shop nicely applied another piece of metal covering the front and bottom. Very few indications of the accident were desirable once the pan was repainted,.
Good luck,
Ray 64BJ8P1