Yes, grapes are full of dormant buds. As long as the roots are intact, it
will grow new trunk, cordon arms and fruiting canes.
The rule of thumbs is one year for one trunk, one year for two arms, and
another year for the fruiting canes.
So, in the worst case, you can cut it back to two buds, from which hopefully
a new tree will come. Of course, whenever you do this, it sets you back two
or three years.