I look at the "12" and see how the bottom of the "2" is not straight and touches the track. There are inconsistencies in distances between numerals in the outer minute track. See for example how the 1s in 10 and 15 touch the other numeral. Also, look at the 5 in 50 - they touch. Compare this with the 20, 30, 40 and 60 - no touching.
Then there is the issue that the overall condition of the watch case and movement suggests considerable wear, yet the dial condition appears to be inconsistent with this.
These factors lead me to conclude it is a redial.
I guess the quality of the redial is subjective, but IMO this is not good quality. The fact that we have seen far worse redials has no bearing on this.
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