That's the original bearing as installed at the factory. It appears it is only lubricated from the transmission fluid as there is no oil channel on that side like there is on the magneto side so that bearing is isolated from the crankcase. However, it isn't quite a generic 6203 NR with one shield but also has a narrower inner race to sit over a snap ring. I was able to source the correct bearing from myronsmopeds. It's coming today so I'll see whether the NOS correct part has the outer shield installed but as Rebel Moby pointed out if the shield blocked fluid there would be no lubrication at all.