Is the dealership selling the boat? Not really a high mark for a dealership (or any one for that matter) that is trying to sell a boat and doesn’t even check or top off the fluids first. I purchased a used 95 Maristar 200VRS from a dealer who told me the boat was “regularly serviced” at their shop. Among a long list of things I found wrong with the boat, the V-drive oil was low and had the consistency of pea soup. My ski locker also had an oily film in it and it was coming from the bottom of the V-drive. I changed the V-drive oil but also removed the bottom plate to remove all of the old sludge. Once I sealed the V-drive up and cleaned the bilge, I’ve never had another issue. It’s really up to the potential buyer to check the entire boat over.
If you didn’t already know, the “Low V-drive oil above 1200rpm” light will flicker when the transmission is engaged until you get over 1200rpms and then it should go off.