Yeah, to my my purely layman opinion, the mast seems like it has some issues. But I'd think its useable for lake sailing. Maybe Crazy Dave can comment, but the the things I find concerning are the "prebend" is not factory and it seems like it would take some work to bend it back like it is, and the hole for the raising pole has seen some abuse. Im talking about where the pics show the hole pushed in by a fairly large amount, weakening the mast wall. But again, with a good repair with that doubler piece it will probably work. So long is care is taken in the future that the pole is properly positioned so it doesn't mangle the hole repair again. Or, worst case, the mangled hole is such that the mast has lost too much bending integrity and its not safe. Perhaps welding the doubler on would be better in this case. You will have to decide.
Would it be nice to have a new mast? Sure, but these boats are old and the replacement may or may not be available or cost effective compared to the total boat value. Or not. I haven't priced one out. Maybe a used one is available someplace. There are boat salvage yards. All Im saying is its seen some abuse, but you can probably get away with it. So, just some food for thought.
FYI- The term "gin pole" is appropriate for this topic, according to wiki: (paraphrased) "A gin pole is a mast supported by one or more guy-wires that uses a pulley or block and tackle mounted on its upper end to lift loads." But Hunter does call it by another name.