Every jackhammer you will ever hold comes from loot or a trade, as its item page says. The row marks it not researchable, so the Level 2 recipe here never becomes yours. What the calculator shows is what you are holding: five metal blades and a metal pipe, the same bill as a salvaged icepick.
That makes the choice easy. Keep it and farm with it, because nothing on your bench replaces it, and patch it up at a repair bench before it breaks.
Recycle it only if nobody in the group will carry it. The recycler hands back about half the blades, the pipe roughly every other time and 30 scrap. That is not a whole icepick, but it is a start on one.
