It looks familiar, but I can't quite place it. (Senile brain cells at work again.) It's pretty clearly a reissue of something else. I'm trying to remember whether Imai used to have a "Spanish Galleon," or something of that nature. I have a vague recollection of that hull shape, with the big vertical timbers on it, from when I was a hobby shop employee. But that was almost thirty years ago.
On the basis of the photos, if we ignore the hokey "pirate" junk, it looks like a good kit. If it was in fact intended originally to represent a Spanish galleon of the Armada period, it does a better job of it than any other kit - plastic or wood - that I've seen.
Youth, talent, hard work, and enthusiasm are no match for old age and treachery.