Junction box

Looking for opinions on this “junction box” i found in the basement of a house. The house has 100amp service and the basement is finished. It is a short sale and the seller was in the middle of doing some electrical work. not sure if this was a work in progress type of thing. All thoughts are appreciated.DSCF4152.jpg

See it all the time in older homes, in particular homes that have/had K&T. As long as all the splices look to be in good condition, and proper, utilizing proper hardware, etc. and the box is not “hidden”, I don’t even comment on it. It’s a non-issue for me.

If that is a sheet metal screw with the grounding conductor, that would be notable.

There is also a knock out missing and evidence of possible heating in the middle of the panel.

Exactly, it’s nothing mre than a big ugly Junction box. If done correctly it is perfectly acceptable.