It has been changed, it's now a brass bead dovetailed into the barrel. It's pretty tall and would look better with a ramp sight but lots of other rifles use the same technique so they aren't alone. On the good side from what I've read is that because of its height you don't need to switch it out when mounting a peep sight.

[Linked Image]

Gunnery, gunnery, gunnery.
Hit the target, all else is twaddle!