"Water Proof" Slip Ring Repair?

Looking to repair one of these things (b/c the new cable, with it in place is hundreds of bux!).

It’s a “water proof” (in quotes, because disassembly shows it most certainly is not water “proof”. “swivel joint” for a Dolphin Nautilus pool sweeper.
This video does a pretty nice job of showing a hack I don’t really think I can pull off, but certainly does a great job of introducing all the moving parts (lol).

I honestly thought the one I’m working on would have a broken wire in the cable, but that doesn’t appear to be the case after disassembling the slip joint. Inside I found NO central pad, and 2 reasonably intact slip rings. With only 2 wires on this unit, I figured the central contractor this video shows under repair was no longer used, and just the 2 robust-looking, intact, out slip rings were employed from the factory. WRONG-OH!. Investigation of the pin side shows, it’s the central pin, and outer pin being used. But there was NO CONACTOR PAD on the slip ring side of this thing. All the same, I drilled with a 9/64-sized bit, as per the video, and surely DID find a “place of contact”, where continuity to the far-side cable-end exists for that pin. I was shocked. But now, I’m facing effectively this video’s situation, and wondering how I can put an effective solution on place. I’m not understanding what he’s using in this video for the “contactor pad”, for starters, and have little confidence in getting it soldered to “the place of continuity” (which I can probe for with a multimeter, but cannot SEE). So, soliciting ideas for how to restore this center contactor pad.

I would also be open to replacing the whole shebang with a new slip-ring assy that’ll survive salt water duty, if that’s better/more effective (and cheaper than buying a replacement).
Thank you for reading!

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