Snark 70ish what has happened to the hull? can it be saved

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i'm new to boating someone has this for sale Snark 1970's they said it was fiberglass. but what has happened to the hull?
can it be repaired ? is it worth repairing the hull in some fashion?

I have some epoxy from PPG Amerlock2/400 can i use it on that is some way?????
Strip that mess off and paint the foam or will he amerlock melt the foam ???????

As i'm not a boater lol I have to ask can i just leave the hull as is and just paint over it????? lol does it really have to be smooth :)
snark hull.jpg
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I've been on snarks before, a fun boat, most have the foam with the outer plastic shell, I haven't seen them with fiberglass though. Sometimes the plastic will crack and a patch has to be applied. I haven't seen something like this before though. Wish I could help more, best of luck.
If its actually fiberglass... that's incredibly strange. I imagine you could strip it off (if its fiberglass) and re-glass the boat. Heat can warp fiberglass, but that seems extreme. But if the boat doesnt actually leak or take on water, you could sail it like that. You will probably have some sluggishness, and it may not tack all that well, but I have no idea how much impact it would have.