It looks like that, because that is exactly what it is.. They were built with Power Products 2 stroke engines that were later branded Tecumseh after they bought Power Products, or the name changed. I don't exactly remember. Toro single stage snowblowers ran a very similar engine until the 2 strokes were discontinued
Air cooled, hit it with a hammer and it will run type of thing.. As long as the gear case is in good shape, and you can stand the noise it'll keep chugging