One result of this approach that we discussed IRL is the following example: a package consisting of a parent transaction (which would be acceptable on its own) with a CPFP child (raising the parent’s chunk feerate) while also conflicting with a large third transaction without paying its relay cost.
In this case, relaying the parent alone would be accepted, but in conjunction with the child it isn’t.
If this is a problem, there are approximate solutions, like after chunking the relayed package, seeing if any of the parentless transactions in the chunk on their own meet the mempoolminfee, and if so, process them as a “chunk” on their own.