Toss it and you will lose the opportunity to experience another enjoyable aspect of our hobby, building! The skills you learn in doing this fairly simple repair will help you when (if) you decide to tackle more complex projects. Sure, a new fuse/plane is an inexpensive way to go, but if you build up your skills to where you can rebuild any plane, rebuilding someone else's trashed plane is even cheaper, and in my opinion more rewarding that just assembling an ARF.

If this is your only plane, for expediency replacing the plane is OK. Repair this one, and you will have a backup plane, just in case!