That's pretty bad. It's dirty/worn out heads with either at record or at playback stage. Bad quality / badly stored tape with the metal coming off of the surface would also do this on playback. But if after playing this tape the next one is good without cleaning the video heads I would guess it's a problem at the recording stage and not playback. If it's recorded = burned in = deterministic -> there's no help from multiple captures. If it's problem on playback, multiple captures could help.
Here's a sample of a video I did for a customer with badly damaged tape (wrinkles, scratches). 5 captures and median with avisynth.