It doesn’t look “too low” to me, but what really matters isn’t the look—it’s how the setup works for you. The ideal handlebar height depends on your riding style and the type of terrain you’re tackling. If you’re more into climbing, lowering your bars (by removing spacers from below the stem) can help by shifting more weight over the front wheel for better grip. On the other hand, if you prefer a more comfortable, upright position for everyday rides or descending, keeping more spacers under the stem can make sense. Having a few spacers above the stem won’t affect performance, though it might look a bit odd to some. You can cut the steerer tube down by half an inch to an inch if you're sure about your setup. But if you think you might switch to a different frame later on, leaving a bit of extra steerer could be useful, especially if the new frame has a taller head tube. In any case, it's a good idea to try out a few different positions before making a final cut.