It looks messy which is what strikes you at first glance, but if you look beyond the spaghetti-method of wiring, I don't see any reason why this couldn't be turned into a halfway decent installation.
The 120/240V side is partitioned off in the lower section with the relay contact terminals and the transformer. The wooden backboard for the LV control board isn't a problem.
Strip out all the messy interconnects, rerun, dress, and lace all the control wiring neatly, and I think you'd end up with something quite satisfactory.
