Oil Pump vs Engine Wear question ??

There is a spring in the oil pump that insures a minimum pressure. It is not at all uncommon for the spring to fatigue with age and present the symptoms you describe. The spring can be stretched and replaced. That will restore operating oil pressure, but may compromise initial flow of oil at engine start-up. But There is no assurance what kind of oil pressure that will result, especially for minimum oil pressure. Replacing the pump is cheap insurance to prevent some of the ill-effects of low oil pressure.