Newish Idler arm has a lot of slack/wobble

Those foam and hard rubber parts are not bushings, but basically just dust covers and if you are real serious about getting rid of any vertical play in the idler arm they make a bearing kit to replace the inside parts with kind of like this.
I don't know who carries them though.

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I used to see those for OEM idler arms. I always questioned if they would fit one that had been replaced at some point in time with an aftermarket replacement.