Another point about oil coolers that use water heat exchange rather than a traditional all oil cooler with it's own radiator are:
1) Simpler and cheaper. With an all oil setup not only is a radiator required an oil thermostat is also required otherwise the oil may never reach optimum operating temperature due to too much cooling. Also ideally a higher power / flow pump is better.
2) With a oil/water heat exchanger one of it's primary purposes is to get the oil up to a better operating temperature more quickly. This is done not only for general wear and tear purposes but also emissions and fuel economy.
If I had too I would not be overly concerned about bypassing the oil/water heat exchanger providing the car was doing normal motoring. For many many years, before all the much tighter emissions and fuel economy vehicles did not have oil coolers except for some automatic transmissions. Even then many automatic transmissions did not have oil coolers and people who towed would get a transmission oil cooler fitted but not an engine oil cooler.
On a separate tack there are many many much older vehicles clocking up 100,000s of miles, some going round the clock twice and the engines are fine. Just regularly maintained, nice fresh oil and filter, etc. AND no oil cooler. With our modern cars with all these fancy, complex, expensive controls systems, emissions control complications, DPFs, etc. then the basic engine may be fine but the rest of the car can be too expensive or difficult to repair thus bringing it's life to an early end compared to many older vehicles.
The Barchetta is by modern standards a simple and not particularly complicated car. Simple ABS, simple fuel injection and induction system, etc. Only not so simple by old standards is the variable valve timing / variator setup. One could easily remove the ABS and variable valve timing and the car would still run pretty well. Try doing that on a modern car where the ABS, traction control, stability control are tightly integrate with the engine ECU. Add lane control, collision avoidance, etc. and you have a University long term project on you hands