Coincidentally I also have a 2001 and it had very similar rust. The worst sections were actually the center sections where the skid plate mounts.
I only had one bolt on each side actually holding the plate up.
Judging by your pictures, I think its
Repairable. Safe-t-cap will work well as long as the top of your frame rails are ok. I paid the MSRP on parts for my repair (approx. $1000 from safe t cap, which was everything but the driver side front control arm mount section). I then paid an additional $1500 for the removal/ install/ cleaning/prep/paint of new parts. So all in I was close to $2600. For perspective, I only spent this much bc my Jeep has 74k miles and everything else (body/interior/etc) is close to perfect. Good luck! I
Hope this helps.