It could, don't get me wrong, you'll be investing quite a bit of time and money. It would take me a while to respond about the many things you'll want to look at on this tractor in the idle state it's been in for how many years.
1st thing you'll want to do is see if the engine is stuck, see if it turns over by moving the fan, if the belts are still intact. I'm not sure what that has for a clutch housing cover if it is a 7M series, and where in there you could get a bar on it to turn it over, you need to get to where the starting engine pinion engages it.
On the crankshaft pulley or end facing the radiator, there is a way to fit a steel rod with a dowel through it to mate up with the nut on it. Using a pipe wrench or if you have a hexagonal or flat surface machined in, a wrench may work with a big cheater bar, but if you need that cheater, it's stuck. I have been through that on one of these that looks similar, still have it and another in much better shape.
Look on the engine towards the back, and or on the back of the tractor, left side, above the final drive housing, see if you can find a serial number, if 1941, it's a 7M series, next series up would be 3T, and 4T which was a gov't purchase order of 10,000 units. There are some 6T's out there too, bought for the US Navy, and even more scarce are 1T's that were armored.
The starting engine needs to be checked out, see if seized. You'll want to really look over the undercarriage, at a glance it is well worn, but my oldest one is just as worn, your pads look better and I see what looks like a loose pad on yours. If it is worn out, I hate to say it, might want to pass. I like these old tractors and it's a nice thought to see someone bring one back, but can be a money pit, or you may luck out. I'd also want to make sure the heads are not cracked on the engine. These are notorious for sitting and being brought back, but if the engine is seized, you'll need to do some work to free it up at minimum.
The dozer kit is not LeTourneau, at least the radiator guard and front mast, + overhead ridge beam for the power control unit, (cable winch - these are not towing winches either).
Hopefully it does not end up as scrap, they are a handy tractor even today if operational. There are more things to check, want to make sure the sprockets are tight to the shaft, and that the final drives are good, minus the seals, those may leak a little by now, the bellows seals in these.
I'm all for going for it, but realize that is a lot easier said than done LOL !
I can refer to my manuals if you do need help , but you'll want yourself a set of those for this tractor if you decide to embark on it. Serviceman's reference book, parts catalog, and operators instructions + whatever may be available for the power control unit, (cable winch for the blade)