Being a cabinet maker, this would be a simple fix. Chuck it in a lathe, reshape the tip, sand, seal, repaint.
Or cut it off square to the verticle centerline and glue on a small round piece of balsa and sand it down.
If ya don't have a lathe;
I've made several repairs by thinning down TiteBond II about 20% and mixing in 50% (all by volumn) of fine and medium sawdust. Use a craft (popsickle) stick and add a little at a time letting each gob dry for a few hours. Once it's a little oversized, sand to shape, seal, repaint.
As a side note, first thing I do on paper tubes is block w/320 grit, 3 coats thinned TiteBond II, block w/220 grit, (bad tubes get an additional 2 coats).
On Balsa fins, before I even cut them out, I block sand w/ 220, triple coat w/Titebon, block out again w/220 then remove the fins, bevel edges, mount, triple coat bevels, block, add lug, prime.
Balso nose cones gets chucked and spin applied thinned TiteBond.
TiteBond can be sanded after 24 hours of dry time. Keep the presure light when sanding and the paper clean using a scrap piece of blue jeans. Or your pant leg.