I think it could work very effectively as a preliminary method to breach language barriers. In the short term, machine translation to do the brunt work with some human polishing would probably help a small studio of sorts. But nothing will beat a proper human translating. I'm also not worried about the optics regarding jobs; human translators will always have a place since the machine lacks nuance and understanding of colloquialisms. But the bad localizers (the ones we are familiar with, like the localization for TWEWY) will be out of a job; they are the only ones upset about these methods to circumvent their tampering.
You're making it sound like there are any that actually trying to stay true to how Japanese language actually works. Most like to push their own spin on the language while it is actually pretty robotic, and it only changes by the manner of speech or the suffix that are used and that is even being ignored by them. From what I'm reading, it is these companies themselves that sometimes demand that the localizers change things. That is what the translators/localizers say, But that is questionable seeing them praise their own mockery of pissing of the actual community.
I stopped buying any kinda anime content and just go for the merchandise, so I can avoid supporting these companies. Most of the translators aren't actual fans, they are just people that had this warped vision of Japan en when they saw the hard nature of the country, and became more spiteful because it isn't this retarded liberal heaven, but a hard society with true equality.
The victims of this whole bullshit are the actual fans of what Japan stands for, and what the real reason is that anime has become so popular. I'd rather try to learn and understand a Japanese nuance than wanting it warped into something familiar.