Dont forget that airbus will value the aircraft at cost so there needs to be less dammage for it to be considered a write off;
Its not just the value of the damage, there are liability issues that will be taken into account, I'd say that would most definitely rank as 'severe damage' Remember what happend to Japan Airlines who were flying a repaired 747?
Plus I'd have to ask the question who would want to buy an A340 with that kind of history, especially one that hasnt even been delivered yet. Looking at the pics I can't see that one flying again.
I'd also wager that Ethiad will have something pretty unsympathetic to say about this given that the bent aircraft has their name all over it!