The rubber should not touch the exhaust. The rubber tip is there to kick the stand out of the way if you try and ride away with it down, instead of possibly jacking the bike into the air on your first left turn.
Anyway, something is wrong. If you have the stock exhaust I suspect the stand itself is bent or the pivot has been bent or damaged, possibly that part of the frame is rusted and weak allowing the pivot to shift (this is a typical spot for internal frame rust since water will collect there if it gets inside the tubing).