One quart down on oil is still more than the engine needs. That's only on the add mark, so its not an oil level/amount issue. The dipstick only reads about two quarts, there's still about two more quarts left once the dipstick can't reach it. Not sure how low it has to get before the pickup draws air, but I'd guess its pretty low.
You could pull the valve cover and watch for oil flow to the valve train. Or an actual oil pressure gauge would be great to confirm PSI is OK. Either way. If there's flow/pressure, change the pressure switch and go from there. I wouldn't condemn the engine just cause it uses some oil, especially at WOT. Just check the oil every week or so and keep driving.
You could pull the valve cover and watch for oil flow to the valve train. Or an actual oil pressure gauge would be great to confirm PSI is OK. Either way. If there's flow/pressure, change the pressure switch and go from there. I wouldn't condemn the engine just cause it uses some oil, especially at WOT. Just check the oil every week or so and keep driving.
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