A worn-out backpack: your opinion invited

I have a backpack that dates from eighth grade. The padded straps are worn out, and the zippers are no longer entirely reliable; they used to be self-healing, but now they sometimes need a lot of finagling to stay closed. There is a small hole worn in a bottom corner of the backpack, and another worn in a bottom corner of the small outer compartment.
 
However, the nylon material is still fairly sturdy, I think. The backpack can still function. I don't like the idea of throwing it in the trash. What should I do with it? Is this the kind of thing a thrift shop would be happy to take? Are the straps replaceable?