Bearing were only used with full pressure oiling.
True from an 'as shipped by the factory' perspective.
And as Jmay points out '53 is the transitional year. In '52 cars could be had with a babbited 216 stick or babbited 235 powerglide trans. In '53 Chevy shipped an all new body with only 235 power-plants. The stick cars had essentially '52 powerglide engines but with solid lifters. The powerglide cars had an entirely new set of castings with a full pressure crank and insert rod bearings. The '53 stingray used this new full pressure engine with solid lifters. BTW '53 216 engines were shipped - but only in trucks.
As for the question of inserts and dippers - the machining of rods to accept inserts for full pressure conversion proved to be economically competitive with rebabbiting services. As a result the aftermarket produced insert bearing shells for dipper engines. This created an option for service departments and re-builders.
I have used Perfect Circle inserts in my 216 build:
dippers and all:
As for what to do with a 216 . . . find a late forties or early fifties Chevy project that needs a power train . . .