I think the red tape is there to protect the cue from the rear chuck marring up the finish during a repair. Or yeah, it could be hiding a name.
Predator bores a hole into the tip end of their shafts, leaving a paper thin sidewall. Under normal play, they hold up through all the stress & impact the game can offer, including break shots. So exactly what is so bad about a 1/2" bore into the butt end of the cue? Nothing. In fact, it's pretty typical & from what I have seen is common practice in all levels of cuemakers.
The cuemaker had a choice to use a very weak & lightweight wood for a core, or he could use a strong maple & bore out the weight. His only other choices were to come up with some kind of revolutionary technique, or leave the cue butt heavy. In my opinion, he chose the correct method. I'm of no doubt that the butt is plugged solid for the bumper install. I also have no doubt that under normal play, it would have lasted forever & played just fine. Obviously, this cue was either victim to a temper tantrem or somebody used it to bash mailboxes from their car window. Or it actually could be an accident & was dropped at a funny angle from a fair height. But I have seen LOTS of cues at all levels built just like this & all seem to be just fine. I'd write this one off as a fluke.