Steering Shaft Collapse Question - 1 Plastic Pin Missing

Thanks everyone for the info presented so far. The more closely I look at this thing, the more I think it is or has been collapsed. It sounds like it is common enough that people just run them this way without issue, so I'll likely proceed the same. At some point down the line when most of the major repairs are done freeing up $$ for the stuff I just want, I'd like to replace the whole thing with a tilt column anyway.