My take: it doesn't look that bad and could be repaired somewhat easily if you know your way around electronics (or are stubborn and just want to do it for learning purposes 😉 ).
I don't think a power surge caused this damage. More likely, the caps on the 5VSB circuit went bad (either the small "startup" cap on the primary or the output caps on the secondary), causing the 5VSB circuit to go haywire and blow up, as this appears to be a 2-transistor self-oscillating 5VSB circuit, which are pretty barebones when it comes to protections. Actually, that's putting it lightly - 2-transistor 5VSB circuits like this pretty much never have any protections. So when a component fails, the damage is cascaded and multiple other components in the 5VSB circuit are taken out.
So as Dave86 suggested above, start by checking all of the primary-side input components as well as taking out all of the 5VSB components and checking each one out of circuit. While the components are out, try to see if the charred parts on the PCB can be cleaned up. IPA + lots of scrubbing (and maybe some sanding/chisseling) should get the carbon off the PCB. If the charred PCB *cannot* be cleaned... well worry not! - I'll share a little secret of how you can still get one of these PSUs up and running quickly... and probably be safer than it was before. 🤣 In short: you will need two power adapters - one rated for 5V and 2 Amps (the same as the 5VSB of the PSU) and another for 12-15V capable of 0.5 Amps or more. You then wire the 5V output of the 5V adapter directly to the 5VSB output (and connect the ground of the adapter to secondary-side ground of the PSU.) Essentially this now makes the 5V adapter's output de-facto your 5VSB supply. Then, you take the 12-15V power adapter and wire that the same way, but to the secondary side auxiliary rail (it's the one that supplies the PWM chip with power.)
The good about this method is that it can be a quick short-cut to see/test if the main part of the PSU is still OK without having to deal with any troubleshooting on the 5VSB.
However, before doing this test (or really any type of power test with the PSU), I strongly suggest you wire a 100 Watt incandescent bulb in series with the PSU's AC input. This will limit the current (and power) should something else be failed on the PSU - you will get a brightly lit bulb. If you're not sure about this method, look up "testing with series incandescent bulb". I had a brief writeup on badcaps.net somewhere, but I don't have the post bookmarked on this PC to show it. It's really a must-do when working with a PSU that has had primary-side damage (be it on the 5VSB or the main PS circuit.)
Now, should you consider to not bother fixing this PSU, make sure to take out the two big 200V electrolytic caps from the primary. These are by far one of the most expensive parts in the whole PSU. If you do ever get into PSU repairing/re-building, you will find that having some spares of these (especially the larger capacity ones - i.e. anything 470 uF and over) will come in quite handy. On PSUs that use these and not a single 400V/420V/450V cap, these 200V caps rarely fail. However, BitWrangler mentioned a good point in his post - sometimes you can use PSUs like this one for parts to upgrade/fix up more crappy (but otherwise OK) PSUs. In my case, I have several not-too-badly built "no-name" PSUs that could use an upgrade on their tiny input electrolytic caps (only rated for 330 uF). Luckily, I do have a few parts PSUs like this that I can pull parts from. So like I said, it's handy to save these parts. The input filters and output toroid are also valuable parts... as can be the output rectifiers... and sometimes even the main transformer (if you match its pinout to the donor PSU.)
Anyways, have fun and keep us posted what you find.