What would you do with this bike?

I was gifted this bike, and I put about $75 plus parts bin stuff into fixing it up, thinking it would be a good commuter. It rides great, but is about 1 size too big. I have another bike I can use as a do-it-all, including commuting, but I’d prefer not to commute with it.

What would you do? My options include: 1) try to make it fit; 2) use as many parts as possible on a smaller frame; 3) convert to a more hybrid style bike (I have most of the parts), 4) sell it and commute with something else (Priority or my other bike); or 5) re-gift it to someone deserving (a student?) and use something else for commuting.

I’ll probably go with #5, since it’s already a fully functional bike and it would be a shame to waste new handlebar tape, but wanted to get a sense of what others might do.