I wouldn't panic if it was my own vehicle. But I would do an investigation, out of interest, to see what was causing it.

I don't know how to quantify how much it impacts performance of the filter, unless the filter has separated at the ends. It is just something that doesn't look right.

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2007 X3 3.0si, 6 MT, Premium, White

Retired:
2008 535i, 6 MT, M Sport, Premium, Space Grey
2003 X5 3.0 Steptronic, Premium, Titanium Silver
2002 325xi 5 MT, Steel Grey
2004 Z4 3.0 Premium, Sport, SMG, Maldives Blue