that's certainly something to replace. kinda don't know how long it would last. I once rode a '70s era bike w/ possibly original tires. I did a test commute & about 3/4 the way there the sidewalls started popping & looked a little worse that yours. I turned around & made it back approx 13 miles. you tire is probably newer but they don't make them as durable these days, I don't think. change it before your next ride if you can. have no idea what you could do to "repair" it