There's no inherent issue with it. It just requires doing a bunch of additional design work, which is not free.
The result is not as good as what they had before, and not as good as it would have been if they hired a professional to design a new font from scratch, but it was cheap and solved their problem.
Fonts are weird voodoo. Good and bad choices can both make a measurable difference to ROI.
So I'm not convinced this is going to be the profit booster they hope.