I think what that is a shop-made tool that either was made by someone who didn't quite understand how the tool was supposed to work, or it worked fine originally but the blade has been sharpened wrong/worn out. In either case I think that the body and wedge are original.
I base that opinion on the evidence of this here picture of a Coach Router, which I found in my files (origin unknown, but probably some auction or tool site a decade back or so.)
I don't have a picture showing the blade area, but I don't see any provision for the chips on this tool, either, except for perhaps a tiny hole on the front, which looks scarcely adequate:
Not the same plane, but apparently the blade and mouth of the same type:
This one doesn't have any provision for chip clearing either, but still has the remnant of a bend or hook at the end of the blade, so I think it worked very much like the "Old Woman's Tooth" style of router, in which the blade is bent and projected far enough below the body of the plane that chip clearing wasn't an issue.
However, if you look up Coach Maker Router Plane, it isn't hard to find variants with mouths, either, such as this example:
https://www.tooltique.co.uk/corefiles/wp-content/uploads/T3687-1.jpghttps://www.tooltique.co.uk/corefiles/wp-content/uploads/T3687-5-450x450.jpg(Pictures from this page:
https://www.tooltique.co.uk/shop/antique-coachmakers-beech-wood-hand-router-plane-measures-13-long/)
Lots of other pics out there, too.
This variant has the blade at a normal plane angle, whereas the other kind and goes straight up and down. So I think if you are to get your plane to work correctly, you need to either make a new iron, if the blade angle is close to 90 degrees, or make a provision for a mouth, if the blade angle is closer to that of a normal bench plane.