Sure, but here we're not mutating the object during the String.startsWith() call. Hence I'd say it's a TOCTOU bug in String.valueOf().
But it's specified that standard Java classes are thread unsafe by default. So this is a specified behaviour.
Is it good that this can happen? No, Java must be more like Scala and push immutability as sane default.
Is it a bug? No.
Is it possible to "fix" the language and the VM at this stage? Yes, but that would be a new language and new VM. So, that's not going to happen.