It might float with just paint on it.
Most of us on the forum would recanvas, fill, and paint…all new. But prior to that we’d make all necessary repairs, strip ,sand, and revarnish the interior. The best time to do that is with canvas off. IMHO now is the time, brother!
I guess it depends on your goal. A Floater? Or a floater that looks like someone has taken care of it.