I'm not a rack designer, and I salute your idea, because it looks OK and is probably gonna work at least a bit, but I would be very careful with two things:
- As you add servers (weight) to it, the base support will likely collapse.
- As you add servers, the sides might "skew" and eventually make the whole assembly wobbly/unsafe. Normally, racks are either welded solid, or rely on transversal, lateral, and diagonal reinforcements.