The file has 4 /PLY elements. Using your latest bsb2gdal.py does not change the core problem
DEBUG:root:('-123.183900 47.032780\n-123.183900 47.599720\n-122.168100 47.599720 \n-122.168100 47.032780\n',) DEBUG:root:gdaltransform -tps -i -t_srs +proj=longlat 18448_1.kap DEBUG:root:('', '')
DEBUG:root:('-123.183900 47.032780\n-123.183900 47.599720\n-122.168100 47.599720\n-122.168100 47.032780\n',) DEBUG:root:gdaltransform -tps -i -t_srs +proj=longlat 18448_1.KAP DEBUG:root:('264.235828047997 8192.85411369754 0\n264.23553921845 313.584303449666 0\n9864.84455602684 313.584331807953 0\n9864.84455306079 8192.854118532 0\n', '')
-123.183900 47.032780 -123.183900 47.599720 -122.168100 47.599720 -122.168100 47.032780
gdaltransform -tps -i -t_srs +proj=longlat 18448_1.KAP