It can't be any more dangerous than where the pit lane joins the track now! Assuming everyone driving properly, on the racing line and paying attention to their mirrors and sides (and ignoring mid-race joins), both drivers would be on a straight piece of road and the one coming out of the pits has a chance to at least get up to race speed before rejoining the traffic. The correct racing line would cross over a little way after the pit exit. The wall would need to be lengthened to make sure people didn't run wide to avoid the chicane, because grass wouldn't be enough.
The only problem I can see is that in order to get off the racing line, the pit-exiting driver would have to cross over the traffic, which could cause issues. Right now they're safe at the outside of the corner.