Yes. But the fibrous interior of the shell is exposed, albeit in just this tiny spot. A little cream would, I suspect, render it almost undetectable, but I wonder whether this compromises the integrity of the shell in any way (i.e. will the leather dry out and will the tear expand, etc.).
haha...This made me think of the Family Guy segment where the guys were singing about the vasectomy procedure.
"...Then, you snip the fibrous tissue. (deep voice guy) Then-you-snip-the-fi-brous-tissue."