The blurry rear window is very annoying, particularly when backing up. It is not just the oxidation, it is also the deformation to the plastic that occurs over time. I cleaned mine up with Renovo, but I still find my rearview to be distorted even if the plastic is clear.
If you decide to change the rear window, you can purchase either a replacement plexiglas or glass section from BAS (link below). Replacement windows might also be available from other vendors such as MGMania and MGF Centre (easier to just call them). There is a also a Youtube video (I think from Dave at MGMania) explaining how to replace it, which is pretty straightforward. I plan on eventually changing my plexiglas with glass, which has the benefit of also having a defroster. and does not distort
https://www.car-hood.co.uk/mg-hoods