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if it has a kink or a crack then it is too far gone but if not it can be trued. I've trued up wheels that were like Pringles back in the day when doing trails riding and they were fine.
if you have ever built a wheel you will find it will start out massively out of true, just a matter of getting it all inline. you may only have a couple of loose spokes causing it to be 2cm out.
If a wheel gets significantly buckled (i.e., bent by sideways force so that it's out of true by a couple of centimetres) is it safe to use if it can be brought back to (acceptably) true? Or is it new bike time?