Yes, repair it.
And by "repair", I mean replace the outer clamshell entirely, from another tape. Preferably a new tape, or a sacrificial retail tape., not another tapes. (And no, personally, I never consider TV recordings as sacrificial. Old TV recordings can be goldmines for the content, the commercials, the newscasts, etc.)
Many people would insist "it's fine", but I've seen too many tapes snag on transport parts during eject. You take the risk of the tape being fine when inserted, for the playback/capture, but slightly destroyed when ejected.
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