We had a guy show up for a ride, on a Monster, with a similar amount of tread. We talked about it before we set off.
Sixty miles into the ride his tire looked like this
He limped home and had steel showing all around the tire.
I changed the tire for him, once you have the belt showing, you have about 1/16" of rubber under it and the tire in that area is just like a ballon waiting to be popped by a sharp stone.
Now your tire, you may get one more ride out of it, or end up stranded somewhere.