The bass in the OP is atrocious, buuutt...
NOT ALL GUITAR CENTER STORES ARE LIKE THAT!
Okay, okay, so a lot of them are, but sometimes the GC hate is ridiculous. Whenever you shop in retail stores, including big box stores like Guitar Center, you shouldn't expect everything to be perfect. Sure, it's a bummer to think of it like that, but it's the truth...if you go into Guitar Center expecting the bass to be set up to your specs you're going to be disappointed.
That being said, the bass in the OP is not even in playable condition, but I'm sure it was an honest mistake on someone's part.
The only GC I frequent is the North Paramus, NJ one. My relatives live about 10 minutes away, so whenever my family goes up to visit I make sure to stop by. The basses (and other instruments) are always set up well, and the employee who works to bass room (I'd like to say his name is Vince...something with a "V") is knowledgeable and passionate about the instrument.
That being said, I went to the Paramus, NJ store once (a few miles away from the store I mentioned above) and it was absolutely awful. They had a wider selection (including some Sterling Classics I wanted to try out), but the basses were sub-parly set up, and there weren't even cables on the showroom floor (so you could plug in and actually demo the bass). I only saw one associate in the store, and he was pretty much useless.
So, like anything, there's good and bad Guitar Centers...while the problem presented in the OP isn't an isolated incident (lots of people, including myself, have had incidents at GC), it shouldn't reflect on every GC out there.