If you are sailing in protected waters with good access to some help should help be needed, then you likely want to fix this end of this season.
You see there is a big SS part just next to alloy (aluminum) extrusion (boom). This is where the trouble is.
The SS has been applied as an afterthought onto an already broken alloy part. Actually that original alloy part should have been removed and a copy (possibly custom made) used NOT SS part.
SS and
aluminum do not like each other and they should be very well separated - never placed adjacent to each other.
So. Do fix it. Try to avoid the SS part - or else at least isolate it VERY well (synthetic spacers / Duralac / etc.).
And do watch this area closely as you go sailing for any signs of impeding doom.
barnakiel