NO.
That chain guard - or slider - or seal - is supposed to do exactly what it's doing.
You're fine. I got 10,000 miles out of mine before I needed to change it.
clicky here <-- clicky
Just keep an eye on it. Especially the bottom part.
do a search here on "chain slider".
Plenty of pictures.
That part is a wear item just like brake pads.
Making your chain too tight will cause more wear - not less.
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2008 WR250X
Gearing: 13t - 48t
Power Commander 5 / PC-V
Airbox Door Removed - Flapper glued - AIS removed
FmF Q4
Bridgestone Battlax BT-003rs