Looks like what has been done was done right. $10,000. Rack and pinion etc. Same guy is selling the '40 sedan. https://www.kijiji.ca/v-view-details.html?adId=1418609002
Kind of a shame, a 40 Roadmaster 2 door is fairly desirable and rather rare(3,921), plus they are a CCCA certified full classic.
It's a classic case of restomod versus stock I guess. Perhaps he didn't know how rare they are. I have to assume the fact he had no interior for the car made the choice easier.