What you explaining is thin-on-thin and dedupe! So fairly risky to be honest.
I would think of it link the recession banking crisis. All the banks think provisioned out their loans, and so did their lenders. Then all the money was required back at the same time = boom.
So if you had over provisioned a bunch of vm’s and for some reason they all did a massive amount write IO’s, you potentially could be in a very bad palace, and throwing dedupe in there as well would make me feel uncomfortable.
However, features are there so can be used - And also ensure you have a rock solid backup strategy just in case it all goes pear shaped.