I remember installing some of that crappy panelling in the mid-1970s when I started working for my father. It was still a thing, but quickly losing popularity.
Horrible stuff so dreary.
There were much fancier styles with walnut, mahogany and other interesting wood paneling, designs with the faux boards of varying widths and types to break up the monotony. The paneling pictured was one of the most popular (and affordable) of the day.
I've used some on the back of custom wooden freestanding bookshelves to improve their rigidity. Usually reverse the paneling so the veneer backing is exposed. Stain to match.
Supplies in the Ozarks are limited so I guess they used what was available here.
(post is archived)