If your mast is OK, it's OK. A new one is boggling expensive. Sounds like the issue is cosmetic.
If it's anodized, you can probably get it back to 80 percent right with a Ballenger polishing product ($29).
If it's painted, a boatyard repaint is likely in the $4000-8,000 range. Lights, wiring, rigging fixes on top of that.
I wouldn't hesitate to take on the paint job myself, which would cost very little relatively, but the logistics -- pulling the spar, a place to work -- are impossible for most of us.