Yes, I do believe it won't run very well the way it sits now
All 1986 and up Rangers came with cold air intake, just FYI
MAF sensors need to be same as stock, for engine size and computer, as they only read a % of the air flowing thru them, like 13%, so data from MAF is multiplied in the computer to get the corrected "WEIGHT" of the incoming air
MAF sensor's purpose is to weigh the incoming air, computer already knows "how much" air is coming in, its a 4 LITER engine, what it doesn't know is how much that air weighs
Gasoline engines use 14.7:1 air:fuel ratio, a WEIGHT RATIO
14.7 pounds of air to 1 pound of gasoline
14.7 grams of air to 1 gram of gasoline
So air weight is very very important
All EFI(fuel injection) computers need working O2 sensors
They can run without them but not great
With no O2 sensors you will need to leave the MAF sensor unplugged so computer never goes into Closed Loop operation
An engine will ping/knock when its running Lean, sounds like a diesel engine
Does it ping/knock?
If not then its not running Lean, probably too Rich, which has much lower power than too Lean
Pull any spark plug and look at the tip
Light brown means good air/fuel mix
Darker colors are Rich mix or oil is leaking in
Best bet is to add 2 upstream O2s
If you can weld then you can weld the bungs on as close to exhaust manifolds as practical
Like these:
https://images-na.ssl-images-amazon.com/images/I/511s-terbqL._AC_UL600_SR600,600_.jpg
If you can't weld then you can use Strap on O2 bungs, like these:
https://www.efisystempro.com/image/cache/catalog/ProductImages/7101430x-1-1000x1000.jpg
Or these:
https://www.aemelectronics.com/sites/default/files/product_image_product_sections/aem_neweld_o2bung_0.png
You should have a Cat converter as well and a 3rd O2 but your choice
ECT(engine coolant temp) sensor will throw a code if its bad, and you can't use it any case until you get the upstream O2s working
You are running in Open Loop now, this means computer is using air/fuel mix tables in its memory(factory tables)
They are made to be used on cold engines
Once the O2 sensors are heated up above 600degF the computer switches to Closed Loop and calculates air/fuel mix on the fly, in real time
With no O2 sensor feedback that won't work well, lol
If you unplug the MAF sensor computer will stay in Open Loop, which also ain't great after engine warms up