Just based on that one picture IMO, that is typical of a repaint where they thought dumping on many coats of lacquer was a good idea
, basic mud puddle effect where the first layers did not have time to cure, but eventually did, and in time pulled the top layers with them.
I would bet that is a repaint. Some OE paint does check, but not that bad .
Lacquer has always been given a bad rap and most of the time it's from just as I mentioned above JMO.
Mike