A term used in the US Army to denote extreme uselessness. It is directed toward something or someone that is the figurative equivalent of the literal
hot sloppy pile of shit that a gob of soup between two pieces of sandwich bread would be.
So the implication here is that the object of discussion is 'Fucked up like a soup sandwich.'
Equivalent expressions in the civilian world are:
Tore up from the floor up.
Useless
as tits on a boar..
and so forth.