Basically the bottom line is there are no wrong answers here.
Chances are that this tyre will probably still last the test of time but if you don't want to take any chances get it replaced asap, end of! (unless you're skint).
This will end all worries of potential risk.
I'd be more inclined to be worried about how much filler is in the lip of that rim which has been clearly repaired and repainted.
I come across these all the time working in a body shop (30 years).
Hope this helps.