Okay, I thought about this for a while, and decided to give it a fair shot.
At the end of the day, what all of us here wanted is to Wally to be recognizable, and for Wally to matter, right? As of right now, this gives us both those things. Is it the ideal scenario? No, but the ideal scenario would be undoable on the current shape of the DCU.
This is not the same shit they've been throwing at the fandom for the last decade, this is something different that comes from character. So I say it deserves a chance.
(The counterpoint here is that this can damage the DCU and, consequently, Wally's image to a bunch of readers who were indiferent towards him so far. So we shall see. But I will hold out judgement for now).