Although I have never seen a "Bob's" in person, it has the traits of a really nice, high quality saddle. Certainly not junk. The leather tooling is REALLY nice.
I'd say it looks like a really nice used show saddle.
The only think I might be concerned with is the condition. It doesn't look bad at all, but do you see the photo with the Bob's logo? (I believe it's also a part of the fender.) The stitching is worn through there. So the back layer of leather might want to peel up at some point, very much like the photo of the leather lifting on the back of the fender. That isn't a functional issue as much as it is cosmetic (most western saddles don't even have the extra leather backing on the fenders) but it could be something that might need a little stitching at some point.
Also, with older saddles like that, you might want to ask about, or get photos of the the back side of the stirrup leathers. Because that tends to be something that will wear out first on a western saddle. The holes where you adjust your stirrups can crack and tear, so double check about the condition of the stirrup leathers where the holes are, especially since it looks like you are buying from very far away.
Just my thoughts as a western rider. I'm no expert, so maybe someone else can chime in. :)