Yep that's referred to as a waffle top receiver and they tend to be worth a little bit more than newer rifles without it. I wouldn't consider the rifle a beater by any stretch. I'd put a new butt plate on it and use it but a little wear on the wood and metal finish does not a beater make. I would consider a receiver peep sight for it also if I were you, they make the rifle much easier to shoot well.
Stu