As-is, yes, it's essentially a goner. I would expect the existing growth to die off and a bunch of water shoots to emerge from below the wound. You could try to prune one of these shoots into a new central leader and cut off the old stem. You could try to get creative and cut strips of bark down to the cambium from the section above the wound and graft a bridge across the wound. But I would only do that if there was a specific attachment to trying to save that particular tree.

IMO you would be better off replacing it and getting trunk guards or making your own with aluminum window screen. Getting a healthy replacement planted will get you a healthier and bigger tree faster than trying to save what you have.