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50% util on that engagement or 50% overall? I've worked on engagements with a part time SM before, if memory serves he worked MWF only. I've also worked with SMs/Ds who've split their time between multiple projects with <25% util per project.
If the team lead is at a ~D level, that sounds reasonable, though the duties sound more along the lines of an account/practice lead than a team lead.
Seems low to me. If I have a team lead, I’m looking for them to be client facing and billable.
No. They would be leading the team and should be highly billable. The TL is the main technical face to the client and THE person driving a solution. A PM may be backing them up for the business context, but a TL is first and foremost a leader.