My thought process:
Reading your reply, I'll give you credit for logical thinking. Alas, the logic does not add up with the facts of what actually occurred during the Jefferson nickel
First, the appearance of full steps occurs at the mint and is not the result (or lack thereof) of circulation wear as you suggest.
The combination of die quality and strike pressure determine if the new coin is FS.
From 1938 through mid-1987 FS Jefferson nickels
were relatively rare due to the die quality and striking issues. In fact, for some early-1950's San Francisco mint issues an MS-FS example is valued in the thousands of dollars.
In 1987 the mint made changes to the dies and coinage equipment resulting in a significant increase in the percentage of FS nickels issued.
These changes continued to occur to the point where today nearly all newly minted Jefferson nickels
Prove it to yourself by going to your local bank and purchase a roll of new 2022 Jefferson. I bet 45+ of them are FS.
Your 1992 dated Jefferson falls into the date range where a FS example is to be expected as quite common.
As I commented above the significant obverse bag hits are an unfortunate distraction and IMO hold the coin to MS62 at best.
edit for spllgening