My Beta Reader Hated My Manuscript. Should I Give Up?

This unfortunately is a scenario I’ve seen many times. A new (or experienced) writer sends their manuscript to a beta reader with high hopes, then is absolutely crushed by the response. The beta hated it, couldn’t even get through it, tells the writer they should go back to the drawing board or abandon it completely. What’s a writer to do? Should you follow the beta’s advice? Should you crawl into a hole and never write again? Should you drown your sorrows with a big glass of wine and a tub of Rocky Road?