That doesn't look so bad, but I had to doubletake to make sure you didn't borrow my photo!
The offending foam I removed from my R1200GS with 120K miles on it. I just got it or the foam would have been long gone!
Note that mine also has a broken lower bolt. I will try to get it out, but if I can't I won't sweat it. The cover holds fine with just the other four. It is just a dust cover.
I'll post my "repairs" of mine when I get it cleaned up. Hope you will too!