I would not ride with that crank as photographed, for anything more than a slow and careful "get home" temporary ride, with myself not rising from the saddle at all.
The pedal thread is only 2/3 to 5/8 there, and the thread that is missing is the side nearest your pedal, which is the fulcrum of the lever.
Stresses on the remaining threads would be much higher, making it more likely to fail quickly with no warning.
While replacement of the crankset is a valid fix, its not cheap and you may have compatibility issues. That looks like a Shimano RSX crank from the 90s through to some of the 8 speed sora cranks. Also depends whether you value the originality and period-correctness.
Instead, I'd look at a pedal thread repair, often called a Helicoil. A bike shop will have the special tools for this, which look like this :
Its a replacement steel thread which gets permanently installed inside your bore, and the pedal goes into that. IMO it leaves a better connection than a steel thread inside an aluminium threadded bore.
Good instructions are at https://www.parktool.com/blog/repair-help/pedal-bushing-repair-kit-procedure