^ Yes, the pin only needs to be strong enough to lift the pawl with no load on it and anything more than that, decreases the amount of force needed to countermine this safety aspect to allow it to shear if the jack stand lever were knocked.
It really doesn't have any impact on jack stand safety if everything else is good. A substantially loaded jack stand, takes more than a bump on the lever to disengage the pawl. It's practically universally the problem that the pawl didn't engage well on these defective stands, or of course some other one-off problem with a manufacturing defect which is sadly so so, SO common with Harbor Freight products which I never trust if a failure risks harm in any way, whether mechanical or electrical. Granted I mean their budget line brands, a few of their premium brands seem to have more QC.