The only thing that really bothers me about it is the naming of traditions and giving a hard flavor to them. I'd rather be able to construct my own traditions for my own campaign, and not feel as locked into a set of traditions by the core rules.
This is especially true since I have at least 4 main groups of wizards IMC. Being able to easily shape my own magic traditions for those groups would be great for campaign development.
But if ignoring tradtions and setting up my own isn't too terribly difficult, then I certainly have no problem with it. Like if it's a lot like the way gods and cleric domains were presented in 3e, I ignored the Greyhawk gods and made my own human pantheon while keeping the humanoid gods.