It looks exactly the same as here when no clients are connected - i.e. 100% normal. Is there anything bad in the kernel or system log? What appears there when clients attempt to connect?
P.S. WPA is broken, switch to WPA2.
Also, try to set the country. Here is my 2.4 GHz config:
config wifi-device 'radio1'
option type 'mac80211'
option hwmode '11g'
option legacy_rates '0'
option country 'RU'
option require_mode 'n'
option htmode 'HT40'
option noscan '1'
option path 'platform/ahb/18100000.wmac'
option txpower '15'
option channel '5'
config wifi-iface 'default_radio1'
option device 'radio1'
option network 'lan'
option mode 'ap'
option wpa_disable_eapol_key_retries '1'
option key 'censored89abc'
option ssid 't503'
option encryption 'psk2+ccmp'