+1
When an excessive amount of force or impact is exerted on wood, it chunks away. Due to the excellent paint adhesion that is typically achieved, the paint stays on the wood (for the most part). Then, they glue the chunk back in place, and label the remaining visual defect(s) as "cosmetic only". It looks a lot like surface cracking/crazing, as there is a breach in the paint from the initial break. If a CHUNK of wood comes off, that's not cosmetic. I wouldn't take that bass if someone paid me.
I had a BC Rich Warlock in high school. During a talent show rehearsal, I (being the idiot that I was), sat it on a chair while doing something. The bass slid off the chair, and hit the floor where the upper horn comes to a point. The point broke off clean (about 1/2" chunk). I glued it back on, and the only thing that could be seen was a hairline crack in the paint, and a tiny chip where the yellow primer showed. I traded that bass in for an Aria Pro II SB-II Elite (the Rudy Sarzo model) a few months later; the guy in the music store looked at it, said, "hmmm...just a crack", and gave me 50% of the purchase price in trade (because I bought it there). I kept my lip buttoned.