No, in the 70's there were "entry" level Gios bikes too.
This is one of them. It holds no interest for me, but as a project to learn now that it is in your possession, why not.
The overall image indicates it could use a close inspection, and planning before and $$ is spent.
Condition of the wheels, tires, assume it will need at least two cables, one shift and one brake, the rear cables might be able to redeploy to the front, assume new cable housing (lined for better performance)
Plan for new brake blocks too.
The chain might be marginal. A new chain and an existing freewheel can sometimes not play well together, but often these bikes got parked before things wore out.
Check that the stem and seat post are not stuck.

If you don't have a set of tools, look into if there is a bike co-op to be found reasonably close. Become a member and take a class or two.