1) It may seem horrible noooooooow, but in a week or a month or a year, you may just realize it was a great piece of writing.
2) Even if it really is a terrible example of your abilities, there will be something in it that can be developed.
3) That's why they call it a first draft, edit it.
4) You can strip lines from different pieces of your work and form a found poem (more about found poems later). That's what we call recycling!
5) Keep it and use it to compare to written work done months, years later. See how far you have come!