okay after some thought, few issues.
The pouch slides, so getting it perfectly level or centered is going to be an ongoing issue.
Had thought that if you added a third cord along the centre, you could then braid the three at either end of the pouch. keeping it centred and getting rid of the parallel cord issue. Which also means you could have a decent adjsutable fingerloop.
Seem's like a lot of work though
Another approach would be to simply knot the cord at ether end of the pouch.
Quicker and simpler.
If you don't lock the pouch in place then it'll slide and the cord will wear through the channels, it'll do that anyway, but probably less if the pouch stays centred.
I think, just out of curiosity I might make one.