It's off in many ways:
- the right geometric distortion is much more complex than you have made, as already said in a comment by others
- it's too sharp when compared to the photo
- it doesn't obey the light conditions
Sharpness and light condition errors are more harmful than minor geometry errors. Illustrator offers ways to fix also the color and it's possible to insert blur, but Photoshop has even better tools to make it to have the right blur and colors according the light variations
Unfortunately making the complex enough warp is very difficult in 2D. It's not impossible but one must practice a long time to get it right. A beginner is no more a beginner when he succeeds.
3D programs are much better in that sense, but you must make good enough 3D model of the tyre. No tyre details are needed, only the surface below the text and the rendering projection must be close the projection in the photo. Otherwise the text looks distorted.
First aid to the geometry: Make your brush stroke to have non-uniform width. Use Illustrator's width tool to get it. It's tried here:
In the bottom left there's the used art brush. The width is adjusted at both ends of the curve. It helps just in this case, but it's not a general fix.
Illustrator's legacy 3D effect revolve allows a route to coarse 3D work. I took a news photo which has a tyre with no old text. I guessed a simple 2 node path which as revolved makes approximately right surface:
The revolution profile should not have an anchor below the forthcoming art insert, because Illustrator often splits the surface at the anchor to 2 separate parts. The user cannot control it.
I tweaked the orientation of the tyre model manually and used the map art feature to insert some text. My tyre is grey and the text is black, because I'm going to expand the result, separate the distorted text as a path an adjust its color manually.
Here's the separated text on the tyre. The color is changed to white:
To get it separated needed expanding the appearance, removing 2 clipping masks and numerous ungroupings. Finally I could select the letters (they were splinters). I combined them to a compound path for easy handling.
There's much less pieces of the tyres to be removed if one renders with no shading.
The result is still geometrically a little off, because there's no perspective and the tyre profile & orientation were only guesses. But I let it be.
In the next image the text is colored with a radial gradient and it's a little transparent to reduce the brightness:
In normal screen size the text is not sharper than the photo. But zooming in reveals that the photo has originally had much lower resolution than the text. The photo has been scaled to bigger size. It's better to have a high resolution photo instead of a screenshot.