While fishing, lures should make a sound effect when broken and the object should disappear automatically. This will be a cue to stop fishing and re-quip a lure.
In it’s current state, fishing poles will continue to “work” while the lure is what most people would consider destroyed. The only issue is you will never catch any fish and not know why.
There is also no way to repair lures, and must manually destroy each and every hook.