On a 2 stroke engine, the Oil is brought into the crankcase with the fuel/oil charge. The oil, being thicker than gas, tends to stick around in the the case, in the needle bearings on the crank, and in the rod. Some of it is puled into the combustion chamber, and lubes the upper cylinder and ring(s).
If you run an engine Rich, it has ample lubrication, and generally good throttle repsponse, but it lacks RPMS because the excess fuel takes slightly longer to burn.
If you run an engine Lean, the crancase lubrication is low, the bearings get HOT, the cylinder gets hot, the whole engine starts to overheat. The soft metals start to break down, the top of the piston gets extremely hot, and any oil that is there is instantaniously rendered useless and it burns off. The fuel, when it enters the cylinder starts to pre-ignite from the excessive temperatures. At this point, if the bottom end is still holding together, the detonation will start to beat on the piston, and actually cause the fuel to blow before the piston covers the exhaust port. This condition is known as "lean pop" and is a WARNING SIGN to back off, and richen the mixture, or face major damage, or Further damage. If the engine is allowed to continue to run, it will likely seize up, break the rod, or burn a hole in the piston.
The key is to find the sweet spot, right in the middle, that provides enough fuel to keep the engine cool and lubed, but not enough to impede on performance.
Generally, if an engine is too lean, it will "fall on its face" upon accleration, which means you give it full thorttle, the exhaust note faulters then the engine slows and eventually stops. All that is happening is the piston goes up, the plug fires, but there isnt enough fuel to cause an explosion.
White plug= Lean engine
Tan/dark tan = The sweet spot
Black/oily= Rich or excessive oil mixture.
In contrast, on a 4 stoke engine, there is a whole host of other issues.
Rich mixture can cause the cylinder t obe wiped clean of the oil film, causing clylinder, piston, and ring wear.
Lean mixture can lead to excessive heat, and overheating, possibly detonation, but the engine would be running so poorly and making so little power, it would be obvious there is a problem.
4 strokes are more accepting of a less than optimum fuel/air mixture than 2 strokes.