In glancing in my '71 NEC, the service conductors could have been as large as 1/0 Cu or 3/0 Al (175 Amps by the Notes to the Ampacity Tables) and the GEC only had to be #4 Al or #6 Cu.
I wonder if that Phillips head screw at the top-right of the neutral assembly is going through to the box? The bonding screws, when used, weren't green back then.
The box looks like ITE. Do you know? The breakers are an assortment of manufacturers, to my eyes.
The GEC is not really related to this issue, I just mentioned it because the smaller abandoned #6 above the panel made me think that the service was previously upgraded already.
This had a small Bryant label inside the cover and someone had written 150A in ink on the label. That was it.