Older wiring

There is one older wire that is connected to a 20 amp breaker that is labeled for the refrigerator. It appears to be feed with the older 15 amp clad wiring.

The refrigerator recpetacle is an open ground.

The home has mostly the older copper clad Knob & tube.

This panel has recently installed.

The updated the exterior meter, SEC.

The branch wiring was not updated.

There were RP, OG missing GFCI, K & T.

It seems to me that the realtors, buyers & sellers feel they have a new updated system when the panle is installed and often the exterior and branch wiring is left in place.

Any comments!

I would like to hear from the electricians as to when they are called to update an outdated service. Do they suggest to have the wiring and exterior updated. Are the people to cheap to pay for the additional upgrades?

Thanks

Uploading this picture was a pain.

The breake in question is the 20 amp above the dual breaker on the bottom left of the panel.