Large gage cloth wiring an issue? Thought unusual with a relatively new(er) box. Never seen this.
All depends on the condition of the rubber insulation. That panel has mulitple issues beyond the feeder conductors.
what other issues?
Correct me if I am wrong, but it looks to me that the branch circuits at least are later versions of cloth-sheathed cables with the plastic insulation on the conductors. In which case, the plastic holds up really well. Not sure about the service entrance conductors, those look to be an older vintage(?)
I regularly see similar feeders on a recent panel swap and don’t comment if there’s a permit sticker. If the AHJ is okay with it and I don’t see arcing or other performance problems I’m not going to make it an issue. Granted, if it was my house I would have upgraded the feeders but I don’t hold houses to what I would do. SOPs are looking for, “performing as intended” and that passes the test from what I see.