Yep, that is textbook. The lumber in the corner shrank it two directions, and the paper tape lost the battle. Pull the cover and phone jack plate, then tear the tape out. Just grab it and peel it loose, stop when you removed all the lose stuff, and cut it with a utility knife. Now bed a new piece of paper in the corner. You pack a generous amount of mud into the corner than place the tape. Before placing the tape, pre-cut it to the correct length, and fold a nice tight 90* crease into the middle of the paper. Use the spackle knife to drag the crease tight and bed the paper nicely. Then continue to add layers of mud until you fill the corner. As a DIYer, you want to do one side of the corner at a time. Lay a layer of mud on the left wall, let it dry, then do the right. Doing both sides of a wet corner joint, at the same time, is a ninja skill, that takes time and lots of practice to get good at. When it comes to matching the texture, well...................I haven't got a clue, we don't do texture in these parts. Finally, WTF is that vein looking horizontal lump departing from the jack plate and existing to the left? Please tell me that somebody did not spackle over a phone cable???? LOL, have fun, all drywall repairs suck, but it's a great skill to acquire. BTW, this skill is a lot like owning a pick-up truck, you get abused by your friends and family, one they figure out that you can do it, typically for free. So play dumb, and never admit that you have gotten pretty good at it :)