It looks a lot like the 10 speed "racing" bike I bought at MW around 1970. Amazingly the frame came from somewhere in Europe. Mine did have drop bars tho. It was my first semi lightweight bike, and started me on the way to better and better bikes that came from a LBS.
I guess I would say that most any bike that is all there and rides ok is worth at least $20. Disreguard all the snobbery and just ride!!!