Plenty of oxygen it’s just a wood fired convection oven in all reality.. the lowest my smoker goes is 180 so it kinda cooks more than dehydrating honestly… 1/4” thick slices take around 4-6 hours depending on ambient temps. I also use bottom round that very lean and cut and traces of fat out of it so nothing can go rancid.I don't care for brisket as much as I do other things... so I typically end up smoking it and pulling it before the stall, cubing it, tossing it in some spicy bourbon mop sauce and putting it back on to make a PILE of burnt beef ends...
So you smoke the jerky with no cure? I guess open smoker grill there is a good bit oxygen so chances of botulism low. My worry is the closed vertical smoker and danger zone temps with no oxygen.
I don't care with the bacon as much, as it gets fully cooked before eating and it is a solid muscle with no voids, etc.