I know I might be in trouble for saying this, but I like it!
I'd do something like it if I had;
a barreled action from a sporter, with metal bits that needed something hidden, such as non-original drilled & tapped scope holes which have been plugged,
a set of buggered but repaired timber that was beyond the BLO-stage, but could be filled and painted,
parts which were already modified, such as an Aussie nosecap which had a drilled-out hole for the barrel and the like.
If I had all of those things and some spare time, I'd do something like that in a heartbeat. Something to bring otherwise dead or cosmetically hopeless bits back to the land of the living. I wouldn't do it with a complete, matching and collectable rifle, just with bits that were not doing anything else...
Cheers,
Matt