I can't count on both hands and both feet how many times I have been in welding shops and seen something like that, where they have used romex as a cord..
Albeit the wrong cable, that rack is actually grounded if you look close at the receptacle the ground contact is actually riveted to the metal backing of the receptacle and that in turn is bolted to the "rack".. and really, those receptacles even though they are not a proper cord " connector", the ones made by leviton are NOT bakelite (read "will shatter") anymore.. They are made of nylon... I have personally kicked one across the shop and into a block wall with no damage resulting!
IMHO, That wouldnt really be a bad rack, I would just put on the proper cord and NOT use it unless all of the cabtire was spooled out first, to prevent heat from building up in that "coil" of cord...