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Two elements here. One is the hem adhesive. You likely can't see much of that except for just a littel squeeze out.
The other is hem sealer, which is basically a bead of sealer run along the edge of the hem to prevent corrosion.
If it's sealer coming off, that has zero effect on your hood flexing more.
But hoods, doors and decklids are all "glued" together with hem adhesive which is usually a pretty strong and durable bond.
Not sure if that helps.
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