My players are FR lore nerds, so why not. But in my opinion 5e core and splats are still pretty world agnostic, as it should be. Campaigns and adventures are easy to port to whatever setting you fancy.
As to the D&D content development over the last years, product focus on new and younger players, and a - by the looks of it - move to digital platforms with subscription and micro payment business models, I don't really see why FR shouldn't be the one setting, more integrated in the core. Other settings seem to be done in a more and more left-handed way, ie look at Spelljammer. There's probably no longer any need to cater to grognard nostalgia for profit and popularity. So just make FR a fully integrated setting in 1DD and be done with it.