In reality, it's more like 12.5 personnel

The 3rd TE and Nacua or Whittington is interchangeable.

With Ferguson as that 3rd TE, it works best because he can run routes closer to a WR and be a bigger body in blocking.

Naqua and Whittington both act as lead blockers in some cases, or simply chip and run a route.

So, yes, I think that formation is going to be tough on opponent's Ds.