This is a unique culture within the motorcycle community that I can respect. A rat bike is a bike that against all odds is kept on the road. In contrast a survival bike is one that is intentionally given a patina or grunged up "mad max" style for purely aesthetic gains, much like an art car. Survival bikes and rat bikes are works of art, that are functional. This is a far different mentality from one who buggers up a perfectly good bike, but you could argue that building a chopper, manx, bobber, or cafe is just as sacrilegious. As long as the guy keeps safety in mind and is having fun, I support him.
But in the long run, I do feel bad for a trashed out bike, but at least this one is loved...