In your estimation,

is this card too crappy to own?

Gil....no card is too crappy to own!

I'd rather have that card than one where the whole picture is faded.

These statements are correct. However, this is not the right card for me to purchase.
It does not appear (right now) that this player nor another I am interested in purchasing, Carpenter, are sufficiently difficult to locate that I need to comprimize my quality preferences. So, I will sit tight on this (the second Hines which I let go - I have passed on 4 Carpenters), with the hope that a better condition example comes along at a price which I consider fair.

I recently obtained a Ramsey in less than ideal condition, but I infrequently encounter examples of his card. Maybe I'd better update the b/s/t on this.

The wear on Hines' face is unfortunate. I can live with the other condition issues. But like Glen said, it's still better than a faded OJ that might be creaseless but you can barely make out the player's image.

In sum: yes, it's worth owning if it can be acquired affordably.

It is more than the abrasions marring his face that bothers me. The creasing across the middle constitute the photo being in two or more pieces, solely being held together by the backing. In my estimation, this card does not deserve the PSA 1 grade that it has achieved.