Even with all that, it still would have a decent shot at working if both OLB's have the ability to beat a single blocker consistently. Otherwise all LB's need to be able to cover so you can just randomly choose which two to send.
Of course combining an ineffective pass rush with at least one safety out of place makes for a defense that will at best lose in the first round, if the team makes it to the playoffs.
This year both the rush and the safety play should be better, regardless of which formation is used.