Definitely looks like it to me. I don't have that game, but hopefully someone can post a pic of the correct configuration for the wireform that the ball presses to activate the drain/outhole switch. The switch it's supposed to be activating is to the left, cut off a bit in the pic. I can't seem to come up with a pic of the wireform needed (the part that's sort of bent/shoved under the trough)... You can certainly try re-bending the existing wireform into shape--i just don't know exactly what shape you need to make it into

If you find pushing that switch by hand (the one slightly cut off in the pic) causes the game to recognize the ball has drained, you know it's just a matter of fixing/replacing the wireform next to it.

Here's the wireform I'm referring to. See that skinny metal part going up out of view? It's bent way out of shape.

Screenshot_20210923-163408.png

Good luck!

To give an idea of what it's *kinda* supposed to look like, here's a pic of the outhole switch on my Eight Ball Deluxe. It should hopefully give you the gist of what it's purpose is/how it works:
PXL_20210923_203708603.jpg