Advice on most likely issue

Pickup history: I purchased at 115,000 miles. No issues at purchase. I have put an Range brand AFM disabler on to try and avoid any issues. It has burned about 2 quarts of oil in the last 4,000 miles.
Pickup started making a ticking noise about 200 miles back but no engine light or other issues occurred.

I did some research and discovered a common problem the 2007.5-2008 series had with lifters and also the bolts on the vlom not being fastened correctly. I thought this was the problem but now I’m unsure as the noise changed from a tick to a scratching sound.

I am able to reach the front 2 bolts on the vlom and they were not even finger tight. After that I ran a compression test, the results were not good:
Drivers side front to back:
50-60-90-75psi
Passenger side front to back:
65-40-125-65psi
I changed the oil last night and found shiny metal chips and shavings in the motor oil. some were stuck to the magnet, some in the bottom of the oil pan.
Attached is a video of the sound.

What do you think could be the problem? Wanting to know how much work/ cost it would be to repair before getting it tore apart.