Oil dip stick line question

I looked at a boat this week, 2003 V230 with low hours. Boat was a mess. The mess could have been cleaned up, maybe, but this really bothered me. When i checked the oil with the dip stick, the dip stick would come out with chunky stuff all over it. It was at the bottom, and all along the stick. It felt like chunks of rust and water in my fingers. The guy said that it is common for the dip stick tube to rust and need replacement. He also said the condensation was normal. I am not a boat expert, but our other boat never had any problems like this, and it had a lot more hours on it. This guy even said he had to replace the one on his 2004 xstar twice already, with only 200 hours.

Is this normal for boat oil systems?