The wear between the piston and pin will certainly be noisy but shouldn’t prevent it running. My pet hobby horse for vintage two strokes is old oil for old engines. That is don’t make up the mixture with s modern synthetic oil , use a vintage two stroke such as those marketed by Millers or Morris Lubricants which are basically a non detergent SAE 30 or 40 and have plenty of body to help with main bearing sealing etc.. I’m guessing that the mixing ratio for your engine will be 16:1.