Salvaging neglected peach tree

Hello all,
I moved to a new home and there is a 25 foot single stemmed tree with all its branches and foliage near the top. It appears to be a peach of unknown variety, but appears grafted with union or perhaps just weedwacker scarring just above ground with shoots perpetually trying to come from rootstock. Last summer it made a couple of small peaches that did not get close to maturity. I am in central Texas and temperatures are already in the 80s and the tree is partially shaded by another large tree and does not itself contribute useful shade to anything else. I am not in a hurry so can wait for a better time of year. I only have half an acre so I would like to use the spot for some value, even if just ornamental, which this tree is not.

What would be the best strategy to salvage it?

Wait and cut it at 24 inches in what appears to be scion and hope for good open habit branches and good variety? Graft known varieties down at at height I can reach? Can you cut down at ground and try to graft directly to old established rootstock? Let a strong shoot come up from rootstock and remove the scion and try to graft to that new rootstock shoot?

Or cut down and chip whole thing into mulch?
Or just don't make eye contact with it and ignore?

Many thanks!

Good question! I'd love to see what others have to say, as I've been wondering about the same thing with an apple tree I have on my property.

It did produce a large number of small tasteless apples last year, and I'd love to help it spend its energy on fewer, bigger, tastier apples. It definitely needs proper pruning at the very least, but beyond that I'm not sure what I would like to do with it. I'm open to grafting, especially if I could graft some varieties down below the current high branches. (Deer pressure might be an issue though.)

Pruning... amendments... grafting...? Any personal experiences?

If all else fails, I'll just be making a whole lot of apple cider vinegar from that tree.

If the soil is not great around it, that could be a cause of the poor fruit quality. A good mulch could help build the soil and retain moisture during the hot months and encourage good fruit growth.

If it still doesn't do well I'd just cut it to 3 or 4 feet tall and graft on other varieties. Peaches are one of the hardest to grow where I live, so maybe even replacing it with a southern apple or pear might be better.

Good luck, hope it takes a turn for the better!