At first glance he looks terrible, however the ad does say he was very skinny when he arrived, so there is probably scope for further improvement. I really like his face though, he looks a very sweet character. As Moody Mare says, it depends what you're looking for in a horse. The price still seems a bit optimistic to me, but who can say without seeing the horse in the flesh.
But then - my second pony looked atrocious when my Grandad bought her but turned out to be talented and had a very sweet temperament and was also gorgeous once we had given her a few months TLC and brought her on gently. If you have the time he may be worth it, but he may not - its always a gamble