Here are some further thoughts/observations
Look at the bench, that's a finishing bench, not a makers bench. Was the referb done but an apprentice?
The shoulders of the bat have not been sanded well they are still very dark, I get the weight issue, and this was a light bat to start with, but still, surely the shoulders could have been sanded more?
The toe guard looks very well fitted. Indicates some skill.
Remember the GM refurb, that was a bit light and dark too.
Just some more thoughts.