I would tend to not use this particular example.
There is a difference between a dent and a crease.
A crease such as this can induce very high localized stress fractures, as Jim has stated. However, a soft dent (think of a nice round profile such as the head of a ball-peen hammer) may show little stress.
A sharp crease such as this, is a risk. It is NOT an assurance of failure, but it exhibits conditions that might lead to ultimate, sudden fatigue failure. A sharp crease can induce local tension so high that cyclic pressure spikes will ultimately cause failure at some unpredictable point. It might last 2k miles, 4k miles, or 10k miles. Too hard to know for sure.
Whereas a soft, rounded profile dent would be nothing to worry about. A soft profile dent is little different than those of the normal forming process and probably of little risk whatsoever. A sort-profile dent is of little risk because it does not induce localized stress points; it blends them with reasonable uniformity and can carry them reasonably well. While a dent might still be the point of failure, it's often at such a high pressure point that it's moot to normal application. You could gently dent a filter canister, and it might be the "weakest link" so to speak, but it's capability would still be way beyond the failure pressure of the rest of the system (notably the gasket).
In fact, think of this from a macro view, and not a micro view ... The entire filter can is "dented"! If you understand how a filter is made, the cans are just metal run through a drawing process. They are, in fact, all just a controlled dent! For those who have worked in metal stamping operations (we do much of it where I work now), I can tell you that metal forming is normal and safe, as long as it's done within the confines of design criteria. In short, the entire canister is "dented" from flat metal stock. It's done with specific design criteria in mind. A soft profiled dent is not a big risk because it mimics the normal forming process.
Also, one has to contend with the ROI; the risk versus reward here.
If I were in some remote village, and absolutely had to use a filter because the last one was violently knocked off bounding through a stream and this particular filter in the photo was the ONLY filter in 300 miles radius, then "yes" I'd use it.
But if this filter were sitting in my garage, when I'm within a Walmart, Napa, AAP or AZ location in ten minutes, then there is no way I'd use that filter in these photos, because it's too easy to go get one that does not have a compromised profile.
That is my opinion.