Water Leak
Hi John, we have a different model boat so perhaps another owner will chime in. If it is the original hot water tank, it could be leaking. Their only good for about ten years. But, if you cannot feel any moisture, then a puzzle. If you have access to a moisture meter (marine surveyors have them) they can tell whether moisture is present. Wood usually does not rot unless in the presence of moisture.
Another source of water (your pic shows a through hull plug) would be rain water coming down the inside of the mast and through the coach roof wire run and down the outside of the compression post. That is what ours was doing. Fixed that leak and it has been dry ever since. That was in 2002.