Yes, it is fine as long as the pits do not reach the edge, but the edge in the 2nd photo looks to be un-set and ragged. Also looks like a double bevel which can be a good thing, as a steeper angle can make a stronger bevel on week steel.

If the razor was a Cell Rot victim, you may have some bad steel that just will not hold an edge. Sometimes going a little deeper and removing a bit more to get to good solid steel will work.