Is this block junk?
Worth even taking to get looked at?

As far as the oil squirter lots of guys like to get rid of em (not me) so you could probably dress it up and bolt something on it to block it off but it would probably need brazed and machining back to make it functional squirter again. If you do this make sure you are incredibly thorough in you cleaning afterwards.

The bottom of the cylinder is a bigger concern to me, grind all the rough stuff away, polish it up then get it checked for cracks.

I've used worse,
Magnaflux the block to make sure it's not junk, as for the squirters , worry about later, you can braze the hole, I had one come to me last year where the squinter holes were filled in with...Wait for it......Flex seal...Yeap Flex seal.......30k miles on that flex sealed block...that guy should use that in the commercial.
I've used a few blocks where a Squirter hole has seen the big end off a rod, for those I drill out main main feed & tube it . At point I can open the oil holes I want to keep...and the squirters get blocked off.

Sorry, that was the good side#5. I bought the complete engine for a couple hundred and thought I might luck out.
There's a good hunk out of the bottom of 6 and decent gouge up the bore. At least the heads are good.

Piston and rod were MIA ended up at the bottom of pan.
This the 3rd or 4th Gen3 I bought locked up but they were 5.7s with a dropped valve.

I've used worse, Sleeve it, it's good candidate for Darton sleeves , they don't sell the "mid" sleeve system anymore for the 6.1 block, but the LS system works and part# 4510317 works fine in the BGE block(#4510316 for the 6.1 crowd). run it up to a 4.165 bore, and 4.185 with some hard block in the bottom of the Jacket.......Pm me , my uncle will give you $200 for the block depending on where you are in Md, we're just above Philly.