If it is stupid and it works, then it ain’t stupid.

Looks good. If you got a lot of cast iron pans, I could see it ripping the screws out that hold the hooks. If that ever happens, make the hole a little bigger and stick a bolt, nut, and washer so it holds better.

Every once in a while the rod may shift. I would wrap a rubber band so that it is “held” to the hooks just enough so you could tell if it shifts.