Is Ailanthus webworm a "bad bug"? (Atteva aurea)
It's fine. While ailanthus (tree of heaven) is an invasive foreign tree (and now will be attracting a new very destructive invasive insect--the spotted lanternfly), the ailanthus webworm is not a significant pest.
You might want to get rid of any tree of heaven that is around, though. Read carefully before you do--never cut this one down as it will just sprout a forest of new ones.