I've seen worse , but I'm sure you're gonna trash that one , Right!!
No tensioner on older engines and the plastic coating on the teeth on the cam sprocket is what makes the timing chain 'silent'.......
Can't speak for the Ford contingent but lots of the smaller GM cars in the mid '60's had the plastic sprocket teeth too. Ever hear one of those 6 cyl in a Skylark or Cutlass for instance that sounded like a cross between a sewing machine and bad tappets at idle?
Helped more than one friend change those puppies out.
The tensioner is plastic, and I dont see it in the pics that are provided.