Hypospadias is a problem only if it's a problem for you, such as when peeing. It's not a problem per se.
It's common enough a variation (maybe 1 in 125) that I hesitate to call it a deformity, as some do. That might be a question of extent. I have glanular hypospadias, the mildest form, and was self-conscious about it when I was younger. It certainly seemed like a big deal to my parents when I brought it to their attention. But my first sex partner was totally cool about it, so I relaxed.