That eye bolt is only fit for the scrap bin.
Only if the wear in the eye bolt eye is minimal should you turn the eye bolt through 180 degrees to get a bit more life out of it.
Any serious wear in the eye bolt (as with the eye bolt featured) will rapidly degrade the eye bolt bushes whether they are rubber or poly bushes.
Coat the eye bolt shaft with 'Copperease' before fitting to alleviate any possibility of seizure in the future.
If fitting poly bushes lightly smear with red or white grease before fitting.
New one ordered. Should be here soon. I will do thanks Phil. I knew really it was scrap, was just wishful thinking. Luckily parts are cheap and available.