I managed this for the first time recently. (I didn't even use CC to bypass Charon and come back with high-level gear, I just fabricated a bunch of Lucifers and spammed them.) Now I'm out of Korolov missions and still a Journeyman.
Given the magnitude of the achievement, it'd be nice if the reward for saving the station was a little higher than for avenging its destruction. I can't remember if the destroyed station now gives loot, in which case it's currently actually more profitable to let it be destroyed.
You get some item either way, but saving does give a generally more valuable one. In my case, a dual x-ray laser.
Saving the station gives player a level 5 weapon. Avenging it gives player a consumable (Mule auton is one) or early military ID.