Stop in for a cup of coffee
Yeh thats a bit ugly. More than I would want to just cover up. Not sure if any of that poses a structural problem. Doesn’t mean you have to tear the thing apart and rebuild, but At very least I would want to stop the rot and be sure its closed up. Those rotted fibers act like a sponge. Hold moisture and allow damage to continue getting worse. In some cases it can be cleaned out and repaired with epoxy. Splice pieces in etc.
@Mattax does some of this kind of repairs - may have suggestions...
