That would be a nice light gunsmithing lathe once repaired and cleaned up. There is a steady rest in one of the crates, that would be useful for rifle barrel work. May or may not be a 4 jaw chuck inlude, none was visible. Expect to spend 40 to 80 hours repair/cleaning to get it running good. Even if worn, it could still produce good work, would just require more skill from the operator.
If at all possible, get some training in operating, such as community college or vo-tech.