Smartass answer: only the stuff I see, and the stuff I can't see.
Possibly more helpful answer:
Okay, it might be okay. But...well, let's start at the front...
It may be an awesome dirt bike, but it sure has a street skin on the front. WTF?
That front drum brake is good drum brake, but it's still a drum brake, a TLS at that. I'll explain if you ask.
That fork has a stout brace, but /5 (and /6, and /7) forks need a lot more than that.
So far, we're looking at a bike that needs a new front end.
Tractor lights. Hmm. Do we know how good this guy is at wiring? I don't--he might be fantastic. Aren't tractors usually kinda heavy? I don't doubt that the lights are brighter than stock, though relays and an H4 worked wonders on these old bikes.
Ninja subframe. Well. The stock is crap, for sure, but really...that saddle does nothing to get you in a good dirt riding posture.
Enough. Look, it might be a great little scoot. MrToaster is certainly creative, and some of his solutions are cool--using the fork brace to get more clearance at the fender, for example. But all we've got here are two terrible photos of what looks like a pretty shabby bike. Rough can be good, sure; but not if it goes more than skin deep. We've just got an awful lot of known unknowns and unknown unknowns here. I might be more impressed if I got to look at it and ride it. As it is, it's just pixels and hype, so the default action is pass.