It does look underweight, and knowing *most petsmarts' it is probably A) a young snake that has either never started feeding correctly, B) has been fed pinky mice once a week or less and is in starvation mode, C) has parasites that are taking his nutrition. There is also a good chance that there are mites or an underlying RI issue or other health issue from improper husbandry. (They are usually at 40% humidity or less and in the low 70's -80's with no heated hot spot in the display cages).
Not all petsmarts are the same, but there is a thread that was just posted a few days ago that shows the kind of treatment most chain stores give their reptiles. Supporting a local breeder may also get you a healthy well established snake as well, and will not support chains that make money off of suffering animals.
The choice is ultimately up to you and how you feel on the risks involved. Keep in mind that *if* the snake is not up to par health-wise, that $60 discount snake could end up costing $200-$500 in vet bills if you have to treat illness.
Also consider if you are ready and able to quarantine a new snake for several months - complete QT means all new tongs, bowls, substrate, separate rooms, extreme care of hand washing and clothes changing after every interaction, etc
No cage is too large - nature is the best template - a snoot can't be booped too much
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