O2 sensors are feedback devices. The PCM operates within a limited range of rich and lean meaning, if the sensor is somehow bad and is indicating lean or rich and the PCM is responding to adjust the closed loop fuel, and if the sensor continues to show the condition the PCM will eventually give up and ignore the sensor, simultaneously illuminating the MIL to tell you something is goofy. The open-loop fuel maps will be safe. It has to be tolerant of inoperative, missing, shorted or open or otherwise baffed sensors...
The engine will be fine and Bosch are a good name.