It kind of works. But the corpus of Buddhism is what makes it powerful. And this is hard to make palatable for the West.
The main goal of buddhism is giving you meaning & joy in life despite of stress or tragedy.
Very important aspects of Buddhism that make the whole much more powerful are:
- Living & acting out of compassion (boddhicitta): if your main focus is other not yourself, a huge relief of worries is gone, and meaning arises naturally.
- Accepting change. There are 2 ways to see change: "nothing matters" or "no need to worry, just relax". Buddhist meditation is geared to getting you to the positive kind.
- Understanding emptiness (or space) as the nature of all experiences, both rationally but in the end resting in this experience in meditation means dissolving into everything and experiencing deep bliss.
And of course the power devotion & social aspects of all religion can not be overlooked, good & bad.
My teachings are from Tibetan kind, which is more mystical & compassionate oriented then the southern countries which are more focus on self-actualization (they teach the Vispasanna retreats)