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It's had a tough old life bless it. The fact the prior owner couldn't be bollocksed to remove the rear caliper or drop out adjusters before spraying is telling. At some stage someone liked it as the clues in terms of a dura ace rear mech and calipers are quite telling. I'll wager at some point in it's chequered past it's been nicked.
Lo-pro touring bike anyone?
https://rover.ebay.com/rover/0/0/0?mpre=https%3A%2F%2Fwww.ebay.co.uk%2Fulk%2Fitm%2F202309813862