Drywall Repair - does this look like a good job is underway?

My homeowners association is repairing the drywall in my condo after a kitchen flood. The bottom part of the drywall and the baseboard had to be torn out. Two workers have come in and put in new drywall, and nailed it in. They then "splatched on" something that look like plaster mud and told me that they... show more My homeowners association is repairing the drywall in my condo after a kitchen flood. The bottom part of the drywall and the baseboard had to be torn out. Two workers have come in and put in new drywall, and nailed it in. They then "splatched on" something that look like plaster mud and told me that they will sand it on Monday. I did not see them taping the joints or spending much time applying coats of plaster. When I asked them if the final work will be smooth, they said "well, smoother than this, but you will know where we applied the repair when you pait". Please see the photo. My question is this -- is this an acceptable repair job? How much better will it look after they sand the compound they put on?
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