Does to me.

 

Well, that's pretty rusty, yes. But it's external.

I'd be more concerned about the condition of the hub bearings and the fulcrum bearings.

Cheers
DD

 

there isn't any pitting so its not bad. is it ugly? yeah, but noone ever sees it.

Get some cleaner like WD-40 and a wire brush and get most of it off. If you have a wire brush thatse used in a drill it'll require alot less elbow grease than a regular wire brush XD.

 

Doesn't look bad to me, it's all surface rust and will clean up easily.

 

If you have an air compressor you can get a spinning brush attachment for it and they are pretty powerful. That would take most of that stuff off.