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This is a form I have filled several times and everything is as you described. To be filled at your final destination with the choice of get an immediate replacement or a repair later. Same as you, I travel with hard suitcases, but none of the ones offered are.
You have to put the value of the old luggage. And of course, they ask for a receipt but sometimes it is nowhere to be found, so you have to leave it out. In this case, they later asked me to give them a link to where the luggage could be bought, something of the same size and brand, although not exact since they changed the models since.
In any case, the value is only used if repair is impossible. The last time I had this happen with AA, they did repair it and I picked it up weeks later at the airport. The time before that, they gave me a voucher at a chosen luggage store in my city.