I've owned two 35mm f2 version IV Summicrons.
One from 1984 and the other a late chrome German one.
The 1984 did not show aperture blades wide open, but the later German one did.
It is normal.
I had the same concern about my IV and was told by a Leica expert to look from behind the lens where the film or the sensor will peak from and the aperture blades will not be visible.
No aperture blades visible in mine at any angle at f2. Just kidding. Mine is German, a chrome one, and I can see this much aperture blade at a slight angle. This photo is a close up wide angle shot. If I hold mine at arm's length and look at the front you can barely see these aperture blades.
Thanks everyone! While I'm at it, is it also normal for there to be an extra 1/3 stop or so after f/16? I.e., after f/16 the aperture ring turns a bit more (but less than 1/2 stop) and the aperture opening then becomes perfectly round. It is not quite round at f16.
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