It's just starting to get golden brown. There may be some life left.
But I suspect that your brake shoes may be the toaster. Remove the wheel and feel for a raised edge on the tops of the braking surfaces. If so, it's because the shoes are overhanging the rim and rubbing on the tire.
BTW- if you have cantis, it's possible that the properly adjusted shoes don't tough the tire when applied, but because cantis open upward they might be rubbing slightly when open.
It's just an educated guess based on the tire, so I may be wrong, but it's worth checking.
If it isn't the brake, you still want to see what's rubbing the tire.
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