It is past the boundary. But it's more fun to push those boundaries.(and more expensive).Ouch! This is why you want a lot of clear space in any melee-centric VR game, right here. It's the Wiimote TV destruction stories all over again!
I actually did hit my monitor the first day I had my Oculus Touch controllers while playing Gorn, but since the monitor in question is an old Sun GDM-5410 CRT and I hit it from the top, it wasn't any worse for wear. This thing's probably going to die of a blown flyback like my beloved GDM-FW900 long before I punch it out in VR.
Seriously, though, if you've got a display in the room, make sure it's at arm's length past your Chaperone/Guardian boundary, if not more! It's distressingly easy to exceed said boundaries in the heat of the moment.