Why do you want it replaced?
Because its full of rust and rot holes.
Edited for clarification.
My impression was that the bottom pan was often times
removed when excessive rust was found here by grinding off the tack welds and
replaced with a new piece of sheet metal. It seems it has been done countless times before by others during a restoration or even a thorough refurb. I ask because I was trying to determine how extensive the rust was in this area. If the rotted breaker strip channel was part of the botton pan, the problem is solved because the pan was coming out anyway. If the bottom pan comes out (after grinding the tack welds) and I still have the rot that I pictured with the arrow, I have more work to do.
Of course, all of this is assuming I am doing a full restoration which I am still on the fence about. I figured it would be smart to find the extent of the rot in the machine which could only help me decide which path to take. Full resto or refurb.