Yeah that can be repaired but it will show where the playfield has lifted against the playfield.
Honestly it doesn't look too bad but are you wanting it to look perfect, that's the question.
You can either.
Cheapest (dirtiest?) option:
Clean up the fraying/lifting and place mylar ontop of the affected area to minimise further damage.
Moderate cost:
Heatgun the inserts and relevel them, touch up paint the affected area but you'll be able to see it, mainly due to the gradient of colours here and the fact the clear is still present, then mylar ontop.
Expensive cost:
Have the entire playfield sanded down, new digital print ontop with new layer of clear.
Most expensive:
Replace the playfield, i'm doing a playfield swap on one at the moment, its not that bad to perform, but pretty time consuming.
Do you have the inline fuses for the magnets? If not you should buy some as the magnets can over heat and wreck the centre area.