There are two large nylon washers between the top nut and the upper bearing housing. These do support the weight of the rudder (although in the water the rudder is supposed to be of relatively neutral buoyancy). The only other thing keeping the rudder from falling out is the quadrant touching its frame, and you do not want that to happen. There's another such washer between the rudder blade and the lower bearing housing to prevent the rudder from being pulled too far up. All of these do wear and lose thickness.