That car WOULD have been a super easy resto and worth quite a bit of money done. What that guy did is like taking about $150k and setting it on fire and watching it burn.
I like what these guys are doing though, the more original cars get cut up the more the uncut ones will be worth.
I think replacing a Dana 60 with a Ford 9 inch pretty much captures the mentality at work in this case.

Sheldon