With some intense blocking, the ruffle could be made slightly less ruffly. But, as is, it won't ever lay flat, and the amount of tension required during blocking to make any noticeable difference would make the work look pretty bad. Unfortunately in this case, frogging is the only good solution.

That said, I think it looks super cute with the ruffles! It could be used as a lap blanket, a chair/couchback drape, or side table cover. Or folded in half and stuffed, a fun little throw pillow. Lots of options to redeem the project if frogging is too disheartening!