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If by "badly" refinished, you mean the dial is not authentic, then I concur. However, having seen what some demented sharpy-wielders have done to dials, this is far from the worst. Who knows what condition the dial was in before being redone, but to my eyes, the result, while unoriginal, at least from the pictures seems to have been done with a modicum of skill.
This watch is from forties. Logo not original to that era and the sub second circle has lost the "vynil brands"