He said the frame, not the body.
Honestly, I dont think the guy's misrepresenting the car at all. If i were looking for a rebuilder, that's a solid candidate. That's the nice thing about these cars, i'm pretty convinced that anything that broke could be remade in my garage in a weekend other than bolt-on parts. The tub's good, the dinged frame area is what looks like a bolt-in shock mount...
Honestly, if i was looking to make a project/toy, I wouldn't say no to that car. I'd say HELL no to the price, but at about 10-12? Game on!
The seller's being honest about condition, there's pictures of everything. For someone who knows metal, i see nothing to be scared of.