Nope probably not. It should be fine
Check the voltages coming out per pinrepair.com Looks way better than some ive seen

--Jeff

Believe it or not it looks quite normal spraguga.

yea all three of mine look basically like that...

transformers are pretty tough... i pulled one out of an old seeburg "trashcan" jukebox (a never ending re-purposing project that i may finish before i die) that looked like it was completely melted down, and the darn thing still worked... buzzed something wicked bad though... sold it to a guy doing a restore, and to the best of my knowledge, it is still working to this day...

The life of a transformer?

I work on large transformers at work. Unless you seriously short them (and fuses should blow to prevent this) or overheat them because of lack of cooling they can stand just about anything.

Will they get hot? Yes

Will some of the plates delaminate and it starts buzzing? Yes

Will they start looking like crap? Yes

But will they still work? Yes

25 yrs ago I asked an older engineer (long retired now) what their reliability was?

He told me if I ever saw one die of natural causes it would be the only one in my career. So far he's right.