If there is a hole for the chain, it will be an entry point for rain/sea water. Unless there is a good drain in the "bucket" leading to the bilge I would agree with Richard!!
Looks like an innovation by a novice original fitter outer, however the woodwork looks nice and professional. So maybe a later owner added it for convenience, perhaps with an eye to making an anchor locker?
You would expect the original hawswpipe to be forward of this with the chain stowing beyond the small front bulkhead - is there any evidence? If so you could reinstate things and sling the bucket.
If not, a proper pipe leading the chain to belown the bunks is quite common but would not look particularly grand.
So really, unless the rest of the boat has a particularly strong USP, I might agree with the others
Originally the very front of the V berth was closed off by a piece of wood to make an "anchor chain locker" but it had no drain, other than the inevitable leaks into the bilge.
I removed the wood (actually more a case of I didn't stick it back when it fell off) and replaced it with a bucket.
The bucket never filled with water and there was never an issue. It was simple if not elegant and it worked.
The bitter end was tied to a bar of wood so it would never go through the haws pipe, but I never relied on that to hold the boat, that was just a last resort if I let it out beyond the "stop" mark on the rope. It was cleated off on the deck cleat to hold the anchor.