have had a soft head "ring" on the jib fail while sailing, so no, I wouldn't recommend it.
I would bet you a beer that the webbing at the head Of the furling sail was strong enough when new, but that UV exposure weakened the thread used to attach it.
All stitching and webbing should be inspected annually for sun damage. (Or more frequently in tropical climes. ). If you can break the thread with a pencil point or a pick, it’s old and needs replacing.
Webbing loops at the head and tack of a furling sail are preferred because it allows a tighter, smoother furl than a pressed eye at the head and tack of a furling headsail. All the furler manufacturers recommend webbing loops for that reason. A tight furl protects the sail from UV exposure. An acceptable alternative to,webbing loops is a not- very-bulky Stainless steel ring, attached with webbing straps.
If you do use a pressed eye at the head and tack, it should/must be be reinforced with webbing straps on all boats over 35 feet LOA (at a minimum) and for all coastal voyaging and offshore sails.
Judy B