The main thing wrong with that razor is the big frown.
There is only one word for a razor where the middle of the edge bends inwards visibly, and that is 'defective'. As you have been told already, this is called a frown. It is hard to hone a razor with a frown, and shaving with it is no picnick either.
A good razors is either straight as a line, or 'smiling' meaning it is a bit wider in the middle than at the heel and toe. smiling razors are not difficult to hone, and are nice to shave with. Smiles are very common on older razors. The majority of old Sheffield blades, even the top end ones, have smiles.
Never a frown though.