I'm in the vehicle business so I see a lot of paint on metal and a lot of body work in the course of an average week. What you have there is terrible! It looks like a repaint over a poorly prepared surface.
I think not only is the appearance going to worsen but that this problem will eventually affect the structural integrity of the equipment as well. I'd definitely either get hold of my selling dealer and have them contact Pieter at First Choice on this one or contact him myself if I were you. He's always impressed me as a man of honor and 'old school' integrity. I'm sure he'll be more than fair and helpful. Truth be told, something like this hurts him at least as much as it does you.