I have no idea about the damage and expected costs so I can only judge from a psychological site:

A wise woman (my psychology teacher when I was in school) once told me that when you think about if you should spend money on something that brings you happy memories, you should just do it because those happy memories are what makes you feel happy at the end of your life (and helps you when you are going through a rough time).

So while it likely is the better financial decision to get a new bike, you’ll always remember fixing your bike and keeping it going. It’s something you achieve. It makes your bike special, it’ll make the memories you make with your repaired bike special. You’re of course spending money on repairing and maintaining your bike, but at the same time that money goes into good memories.

*assuming you fix it yourself. If you just let someone else repair it that special effect won’t be there