It depend one the context of what it is supposed to represent. If it is something that is supposed to represent a group of some kind, you should take into account the material realities of your setting.
In a vacuum it is good design, but it might be overly designed for a world without modern production technique where everything is handmade. If it is only for a banner, it should be fine(Maybe scale the hourglass so that there will be less empty space), but it would be too complex if the group decides to apply this branding to all uniforms.