It looks like the PO used a long nap roller and did not tip the paint
or sand it before putting the bottom paint
It is a common practice to alternate colors of the barrier coat so that coverage can be more easily seen. The white "halo" may be the second coat of 2000e. This is especially important if sanding
between coats. When you sand through the white and hit gray, you've sanded too much.
If the rest of the boat is worth looking at, then go look at it. If you are going to be obsessive like a racer
and want a bottom as smooth as a baby's butt, then you'll have a lot work
to do and you'll need a healthy budget
for sandpaper or soda blasting.