Annealing older shotguns and recasing with no hardness but plenty of pretty colors was very common in the 90's. It avoided warping problems.
The guns suffered no mechanical problems from being in the soft/annealed condition till they were subjected to some real world use.
Sporting Clays and other target type shooters were having problems with galling parts. There was hardness needed in the very least at the knuckle of the frame and it's forend.

Even if no hardness is present,,the gun will perform nicely as a shotgun for the occasional shooter or hunter.
Give it some real use and it'll start showing up,,especially with a tightly fitted unit.
The rants over the Spanish shotguns of the 50's and 60's come much from the same problem. Soft steel improperly or not hardened at all.