Is this your boat? If not, move on and find another. If it is yours you need to decide how badly you want this particular boat.
The picture you have painted is bad. Gel coat is not structural, however it could be cracking because the glass has cracked/been weekend because of abuse.
Either way, to really findout what is going on, the gel has to be sanded down to the glass and a determination needs to be made: If the glass is cracked, definitely buy a new boat unless you have solid body work & fiberglass skills and can do the work on your own. If the glass is not cracked you can proceed with painting or a re-gel($$$)
If this is not your boat I would highly suggest moving on, your time & money would be better suited to a project where the hull is sound.