Yes, that bad. Did you see how some of letters are stamped backwards and the casting marks on the hammer? As they say in Monty Python's movie "The Holy Grail" - "RUN AWAY!"
It is the letter "N" that they seem to be rarely able to make correctly - look at the "N" in "Enfield" it is like an inverted, mirror image..
The 1st thing I look for on any Enfield (No1, No4, No5, and even the 'old' Enfields) is the spelling and the orienation of the letters / numbers
How about this one ........................
G inverted (and it should be GRI)
Look at the "LE" in SHTLE
Mine are not the best, but they are not too bad. I can think of lots of Enfields I'd rather have but instead of constantly striving for more, sometimes it's good to be satisfied with what one has...