Although non-poisonous, it's much too small and watery to be worth eating. It nearly vanishes to nothing when you cook it, and it has almost no flavor.
Once when I found a large quantity of very fresh mica caps a little less small than usual, I tried to get around this problem by cooking them on a cookie sheet with spices and a little olive oil under the broiler. They still shrunk to almost nothing.
When I scraped off the sludge with a spatula, preparing to wash the cookie sheet, I tasted some, and it was good enough to use as a spread. Still, it wasn't worth the trouble.