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It completely is. The previous owner left it in a real state - seat post hacked too short left zero support leading to a developing crack below the seat cluster lug, the steel stem has probably been hammered in there and is totally stuck, below it a slowly failing headset with no easy way to replace. It's a beater. It also rides wonderfully so it's got that going.
Summer's coming to an end so I put my beater back together once again for the winter.