While that does work, just be mindfull when hosing down the bike, or when it torrential rain on it while hot...
The valves purpose was to allow venting, but to also prevent ingress of water at the same time... soooo, that is the downside.
I've always ran with a tank bag covering the filler, so never had the issue, but never had a malfunction of the valve on either of my C10's.