She has gelcoat on the bottom. It's the gelcoat you don't want to remove, except where there are blisters. I think 80 grit is the courses sandpaper you should use to avoid deep scratches in the gelcoat and greater risk of removing the gelcoat in places. Sanding is a dirty, long, slow process and may not be less expensive than blasting when you include the cost of the considerable quantity of sandpaper you will use - even if your labor is free.
After paint removal I used a Drimmel tool (carbide burr) to open blisters and remove the un-bonded gelcoat. There were hundreds of them ranging in size for 1/4" to 1.5". After letting them drain and dry for several days, filled with them with MarineTex, then sanded them smooth. Then applied the barrier coat and new bottom paint. After 30+ years no blisters have reappeared.