I would replace the tube and reconnect the vent. If you do nothing, oil will mist and make a mess over time. Don't forget, the tube vents both ways and should have clean unimpeded air movement. On compression stroke there is positive pressure built up in your crankcase (exacerbated with bad rings) so you need the pressure relief via the vent tube. On intake stroke, a negative pressure will occur and air will move into your crankcase. In the old days these crankcase tubes vented into the air. Today we are more environmentally concerned, so this air is vented into the airbox to be used again. Yamaha claims there is actually a benefit in reintroducing this petrochemically charged air into the combustion chamber.