I disagree with most of the "hobby is dying" comments, but I'm probably the youngest poster in this thread. Sure some parts aren't being made anymore, but how often do you see people selling their tooling so the parts continue to be made? Rarely, then the family goes through it and tosses it piece by piece since no one can figure out what it's for.
As for the car, I can see why it's under $8k. It's missing a lot of parts, a lot of the pricey parts. Imagine the number of swap meets it would take to round all of the missing parts up, and the cost to attend the swap meets!