The "dots" are certainly a sign of dirt/dust. The areas where the insulation is almost completely black are signs of mass airflow. I'd pull the insulation away from the studs and look for plumbing pipe(s), electrical runs, or other penetrations in the wall, studs, and plates. These penetrations should be sealed with "fire caulk".
I certainly don't know how a house could have been built without a firewall between the garage and finished/conditioned space. Regardless, Do Not Put That Pegboard Back Up!!! You should install 5/8" X-type drywall, taped and bedded.