I know, I know...it's cheap. But, over the last couple decades it seems that I keep throwing away another bottle every time I start a new project and thought maybe there's a way to salvage it.
I applaud your effort to reuse/repurpose/recycle. I always make an effort to fix or repair when possible, rather than arbitrarily throw something out.
That being said...give some thought to the big picture. I always consider my time, effort and cost (and remember, your time has value!) that would be required to rehab/rejuvenate an item vs. the potential reward. Is it worth it? In your case we're not talking about an old desk lamp that needs a new cord, where if the lamp fails there are no major consequences. If the pipe dope fails it will be critical (regardless of its application) and require immediate remedial attention, either from you or a paid specialist.
It's your call, but remember, critical thinking is your friend. Keep everything in perspective.
In any case, good luck!
Have always had good experience with contacting manufacturers...