That looks awful, for real. I can't blame you: My last Magsafe was faulty on the tip and I "fixed it" with paracord. It lasted over a year like that.

My first magsafe worked for 6 years without any issues. That "T" design was better in my opinion. The newer "L" tip is more prone to become faulty.

The best fix so far, the one I did myself, was to a replacement cord. It can be a generic one, that goes from the block to the MacBook. You just open the magsafe, remove the faulty cable an solder the new one. There you have, another 2 years of charging for $10 and $15 min of work.