I like it! And you could NOT build it for that price. No way, Jose!
Now, there are some things I'm not sure about, like what springs are under it as that makes a difference in the articulation off road. The aluminum running boards won't last long on rocks, so I'd add rock sliders. And the trailer hitch below the rear bumper looks like it hurts the departure angle badly, but it would unbolt.
But the OX locker on the solid axle up front and Detroit in the rear are great. The 400 should give excellent torque if done right. And the 4.56 gears might be about right to swing the 37" tires.
Gary, AKA "Gary fellow":
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Dad's: '81 F150 Ranger XLT 4x4: Down for restomod: Full-roller "stroked 351M" w/Trick Flow heads & intake, EEC-V SEFI/E4OD/3.50 gears w/Kevlar clutches
Blue: 2015 F150 Platinum 4x4 SuperCrew wearing Blue Jeans & sporting a 3.5L EB & Max Tow
Big Blue: 1985 F250HD 4x4: 460/ZF5/3.55's, D60 w/Ox locker & 10.25 Sterling/Trutrac, Blue Top & Borgeson, & EEC-V MAF/SEFI