It would appear that for now just keep an eye on it, with more serious
work and or changes you may need to pull the stick.
I don't like the idea of the lower end of that tube free to float around with only rig tension to keep it from "scooting" if you will. If it scooted off that plate the rig
compression loads might drive the tube through the thin laminate, big problem.
Your concern is to keep the metal dry?
If so, the tube will need to be shortened so that it can be bedded/fastened to a glassed-in structure that is above the bottom/bilge water.