It's a 50" rear projection TV. Not sure if the game hardware actually is in the base or not.
I used to have a VF2 with the same type of monitor. It's a Japanese Mitsubishi Television that has been slightly converted to take RGB in with BNC connectors. The game is medium res but there will be a converter board after the video outputs to convert it to the 15khz that the TV expects. At least that's how Sega Model 2 works. This is a Model 3.
I'm betting that monitor is so blown out by now it's completely non salvageable. It might be possible, though, to drop a plasma TV in there, work a little wiring magic, and end up with a very nice game. This one is missing all of the skateboard control platform, though.