The radius at the corner cut is excellent.
IDK how large it should be for best strength (obviously 1" is not needed), but any is better than a 90 degree cut.
Even if it's been in use for a while with no bad results, that sharp corner flexes a bit every time you work the suspension hard, and that corner will begin to tear eventually.
No, it never happened to me, it's just my OCD acting up.
Be safe!