Checking it out last night, it seemed to take about 20 seconds to regain one bar after breaking, and another 10 seconds after that to get back the second bar. To me that feels like a long enough time. 20 seconds without access to any defensive options other than block, in a game where getting opened up can lead to 30%+ damage into oki, it's a decent cost.
I also think it could get more costly to air escape once the meta around it develops more. I imagine players will get better at still finding a way to get their damage in (like using a d2), and finding more optimal ways to pressure wakeups.
I think it's fine for now, I don't really think it's hurting anything.