I posted an article a while back on this the end conclusion was it was not practical to do home recycling recovery as you mentioned.
However with that said there is projects you can do such as grinding it up with a dedicated tree branch grinder then melt it into sheets then from there you can shape it over molds or make plastic ornaments
Or what ever your imagination
Also if you have the ability to make a large format printer you might be able to grind a suitable size pellet up to feed into a screw extruder.
I have been saving my pla but have not made any use yet of the scraps
Would be cool if the makerspace took on group projects like this in the future!!
I have seen some cool outdoor furniture made with these pellet extruders