When you get a chip close to the toe of the razor, you have two options. One is to hone the chip out as you did, making the overall width of the blade slightly less. The other option is to modify the toe of the razor so that the width of the remainder of the blade can be maintained. Since the depth of the chip in your case was fairly small, you were able to hone out the chip. Had the chip been deeper, then modification of the toe might have been the better option.
If there is a deep chip in the middle of the blade, honing it out is the only option other than trashing the blade.