I have about 5 degrees of steering wheel movement in either direction before front wheels turn.
The brakes definitely stop, but it’s drums in the rear. Just an adjustment.
This is not unheard of for a vehicle that's been wheeled, but you can definitely tighten it up. Have a helper wiggle the steering wheel back and forth (If the slop is 5 degrees each way have them wiggle it 6-8 degrees each way to put some load on everything after taking up the slop) while you go through the whole steering linkage and find the sloppy joints.
Start with the steering column, look for slop in the u-joints.
Move to the steering box, make sure the input from the steering column is moving the same as the output sector shaft
Move to the pitman arm, any slop?
Look at the frame around the steering box, and cracks or flexing? You may need to degrease and clean the frame to see the cracks.
Move to the drag link, any slop in the steering box rod end? any slop in the passenger side steering arm rod end?
Check the steering arms, any slop between the arms and the knuckles?
Move to the tie-rod, any slop in either rod end?
Move to the track bar, any slop in axle side bushing? any slop in frame side bushing?
Look for cracks or flexing near the welds of the track bar axle side mount
Look for cracks in the frame or flexing in the track bar frame side mount
Check the frame brace that runs from the steering box and track bar bracket to the passenger side frame rail, any cracks or flexing near the welds?
Sloppy steering is an early symptom, death wobble or more serious cracked frame or steering linkage breakage can follow.
This is all normal wear and tear on a wheeling truck, and if you catch it early and keep up on maintenance you can keep it driving tight.
It is a solid axle truck with crossover steering and big tires though, so it will never be as tight as a new vehicle with IFS, factory tire size, and rack and pinion steering. You might go through this whole list and not find any slop or damage to speak of, which means the level of slop you have is relatively normal and is probably a stack-up of imperceptible slop/play at every point mentioned above.