does this 360 t chain look too loose?

With a 1&1/4" socket/short extension/breaker bar on the crank I would get the dampener slit on TDC then hand bump it CCW till the slit is at say 10 or 15 BTDC then with a helper eyeballing a pushrod that is on a ramp (moving) I would carefully hand bump the crank back CW & have him holler the EXACT instant the pushrod moves & you note how many degrees the crank moved which is how many degrees of cam phasing change that amt chain slop is going to cause you