Clearly a lubrication "shortage" has happened, but how it came about is difficult to say without further inspection.
It looks like suspiciously low supply over a period of time and/or dilution by petrol could have got there. I've seen a new cam scrapped in less than 30mins running on a car with petrol diluted oil but the journals were intact.
I also thought what looks like burnt oil on some of the base circles (of the lobes) is very odd and suggests an over temperature situation.
I would never, never, EVER use silicone on these engines for any of the sealing sufaces.