Dat NOT good. Dem bolts dey done mon. When exactly they will fail who knows but it looks sooner rather than later to me. You could attack them with a needle gun to see how much good metal is left and paint it if there is some.
If your conscience allows Ebay it for what you can get.
As for removing the keel an expert user with a gas axe and a little custom made thin steel protection could cut through those bolts in a couple of minute. Fire extinquisher to hand of course. Other wise forget the dremel, a three or 4 inch angle grinder with a cut off disc and just grind of the heads.