Anything can be repaired .That thing blew aluminum all over the place.To be on the safe side you should at least split the cases and clean the bearings.If just one tiny little chunk of residue gets caught in a bearing race that thing would come apart like a dollar watch.
I rebuilt an 038 mag II a few years back that had blew a piston,about like that.It wolfed both bearings.
It looks as though that saw either snagged a ring or spit out a circlip,hard to say.Whatever,made a mell of a hess.
If you decide to split it,check the bearings.Put a little side pressure on them and turn.If you feel any snags what so ever ,replace them.You can try and blow them out with air first though.
Worst case scenario is about half the price of a new saw if you replace the piston,cylinder,both bearings and seals,with new parts.On the other hand you might luck out and find a donor saw or good used parts.
If you do find a used piston,don't try using the used rings.Those old rings would have conformed to whatever cylinder they were in.Some times it works but more times than not it's not worth the agrivation.
If it were me,I'd put the parts in a box and wait for a good deal on parts or a donor .
For what it's worth,splitting the cases is not the big deal many think it is.If need be,I'll put the pictures back on from an old thread I started when I rebuilt the 38 mag.
I imagine it would take me 3 maybe 4 hours to rebuild that engine.If it takes a week,what the hell,you aren't going to learn any younger,go for it.