55K for that? I know early Broncos are white-hot right now but not like that. Calling anything a "project" at that price is just insanity.
I find the same thing when I'm looking for similar K5 Blazers with FWC campers on them. Here's the problem. 95% of the true Bronco Collectors wants the Bronco and not the camper. So that truck is not worth as much to them. Of the 5% that want the camper, most have a Bronco built and ready to install one on. They don't want to pay the price to buy them both and just take the camper off of. The ad did say he'd sell the camper by itself for $25,000. Again, he must be getting some fresh Columbian white stuff if he thinks it's worth that much.
The camper itself looks to need the normal amount of work that one of these campers needs. Back then particle board was the lumber of choice at FWC and it got used extensively for the cab over and front wall of the camper along with the cabinetry. Paint peeling off both the cab over and front wall are a clear indication the roof has leaked in the past. The added lumber to seal the windshield frame and doors show signs of discoloration due to moisture. The outer skin is clean and dent free which is a plus. A unique difference from the Blazer campers I'm well accustomed to and the Early Bronco's is that to get the same size, the EB version requires the tailgate to be down and the camper extends past the end of the body. So they have some additional lower side wall extensions and floor to box in that area. These campers don't have a traditional "floor pack" as a standard slide-in camper does.
It's pretty obvious this guy is swinging for the fences with the price. What the camper is probably worth by itself is 7-10k which is giving it a bump in the amount over a comparable Blazer version due to the rarity of the Bronco version. I don't think the Bronco itself is worth $45k, maybe half that but I'm far from an expert. Is the guy going to come down on his price? Nope. He's going to sit on it for a while.