Whether it's beyond repair would depend upon your client's standards. It doesn't look like anything that's rotting, although you should confirm this by poking around a bit and taking some readings with a moisture meter. I do see what looks to be some delaminating paint further down, but that's likely caused by old latex over older oils.
Rafters are commonly either 16" or 24" OC, but could also be 12", 19.2", or whatever the framer felt like spacing them at the time in an older home. Find out where the rafter is at the seam where the 2 soffit pieces butt together. Ideally, it's located directly over the seam, but take a tape measure and measure the distance between the rows of fasteners and hopefully it'll help you determine the spacing. Some of those seams could look a lot better just by adding some fasteners in targeted areas, but that biggest offender where it's bulging would likely crack if you tried to drive it home and flush with the rest of the soffit, which brings me back to asking what your client's expectations are.
Rafters are commonly either 16" or 24" OC, but could also be 12", 19.2", or whatever the framer felt like spacing them at the time in an older home. Find out where the rafter is at the seam where the 2 soffit pieces butt together. Ideally, it's located directly over the seam, but take a tape measure and measure the distance between the rows of fasteners and hopefully it'll help you determine the spacing. Some of those seams could look a lot better just by adding some fasteners in targeted areas, but that biggest offender where it's bulging would likely crack if you tried to drive it home and flush with the rest of the soffit, which brings me back to asking what your client's expectations are.
