I don't have as much experience as many of the others on this forum, but it doesn't look that bad to me. The stems and decks are intact. Some of the outwales would need a new spliced section. I can't see a whole lot of broken ribs, and if you're going to fiberglass the boat the broken ribs don't matter as much as with canvas. It's the plywood in place of planking that scares me. You'd have to remove all the fiberglass, replace planking and possibly patch some ribs from the outside, then re-fiberglass or canvas the canoe. That is time consuming, but it's a boat from 1911, right? Also the junk on the inside is kind of amazing. Is that just bad varnish or did someone apply fiberglass resin inside the canoe? Either way, it's not too hard to remove, then you can sand.
Norm