Not with it misadjusted like that. When you have no free play at the lever you are not letting the clutch stack seat completely and it's not letting the springs put the proper pressure on the plates, it's like you are holding the lever and slipping the clutch yourself. Rapid wear results when there is no play.
you want to replace worn clutch plates because when the clutch slips all the fiber shavings go into your oil. the fibers are very small and will get picked up by the oil pump. I will be at Grattan the same weekend and can do it for you there Friday night. just order the fiber plates and I can do it trackside. If you have any trust issues with anyone... I am factory certified with Honda and Suzuki, Have a shop at home and do work on the side. I have worked on many bikes over the years. changed Nick Van Goor's clutch a year or two ago with his bike leaned on the guard rail at Grattan. anyways, PM me if you need my help
Sounds like the clutch is slipping. Adjust the lever to have some free play in it. Make sure the cable isn't bound up, but making sure there is some play in the cable at the other end as well. If it's still slipping, get it fixed. Once you wear through the fiber clutch plates, it's then metal on metal. You risk damaging the engine then. I'm sure you know a clutch is cheaper then a new engine. If you're unsure, take it to someone that can diagnose it properly.