My experience of renovating elastomer keypads is that, provided there are no tears or splits, and there is enough conductive elastomer pad thickness remaining, and the board contacts aren't worn away or badly corroded or oxidised, its just a matter of thorough cleaning of the elastomer to remove buildup of contaminates and exuded plasticiser, usually with detergent and warm water followed by rinsing and finally swabbing with IPA, then exposing fresh contact surface on the pad.
However any sort of sandpaper is usually too abrasive and risks leaving a rough surface with embedded grit which may not have high enough conductivity. I found the best option was to take a sheet of copier paper, put it on a hard surface and scrub each contact pad across it in one direction, by pulling the elastomer mat while pressing the button. Done right you leave a distinct black streak, stripping the surface of the pad. Use a fresh area of the paper for each pad.
I would then test the keypad mat and the PCB without fully reassembling the device, and check all keys responded to light pressure - if any didn't respond or heavier pressure was required, they were given another scrub on the paper. If you've got a suitable scrap PCB with gold plated interdigiated contact fingers, you may be able to set up to measure the contact resistance in a semi-repeatable manner so you can quickly check each pad before and after scrubbing it to determine if more work needs to be done.
I've never had good results with any sort of pad repair - the elastomer involved is usually some sort of silicone and it is extremely difficult to reliably bond to it while retaining flexibility. You may get good initial results, but it almost invariably fails again long before any remaining unmodified buttons fail, usually by the replacement conductive pad or surface flaking off or becoming detached from the dome.