Not necessarily. There are lots of old Monark glass boats out there. The fact that he specifically said bass boat leads me to believe that's what he's looking at. Could be wrong though. Common occurrence according to the admiral.
I have a 87 monark fish and ski (glass) it is extremely stable and smooth on plane. I have a 200 hp O/B and it absolutly flies across the water. As with all things if it is glass make sure you go through it EXTREMELY well. Mine only had 160 hours on it and had been garage kept. It does have a soft spot in the floor but I was able to check the stringers through the ski locker and they are good minus a few 2in spot near the bad floor spot. All in all I love the boat. The main negative thing is it is really hard to find information on these boats because there are very few of them out there. Here is a picture of mine. If it looks anything like this let me know.