Is this a problem? Both sides of the roof gable were like this. What you see is vinyl siding without sheathing. Guess they were going to install a gable vent and then said “Na, nevermind”. (Attic was vented with soffit and ridge vents so ventilation isn’t a problem.)
I don’t see this as a problem.
The gable end vents were either removed or changed to ridge & soffit vents.
It only poses a problem if you get a stiff wind like a hurricane. The siding isn’t nailed off except on the ends and possibly in the middle, not like the manufacturers recommend. During the last 4 or 5 hurricanes we’ve had a great many people found out their was done exactly like this one and they lost all the siding, opening up the attic to incredible lift once the wind and rain gets inside. Basically the same as losing a garage door, often results in the roof blowing off. Its another way to shortcut and short change the buyer. Most of the time the sheathing is referred to as “shear wall” and for a reason.
House needs to be water tight before vinyl goes on. Water gets behind vinyl - manufacturers do not warrant their product against water intrusion. Even if on a gable end or outside garage wall the wrap is necessary. The absence of a substrate is simply lousy workmenship.