I would think it would be a great way to pad the ping. Just leave a window in it where the bms is, so you don't insulate that part.
I still like the idea of something very stiff around pings or shrink wrapped lipo. One of my pings has a box folded out of the top of a large plastic tote. That battery has broken out of the metal box and flown over my shoulder to land in the dirt, twice, and it's just fine. (rear rack carry = catapult sometimes) Something soft, and I'd have damaged a corner. The metal boxes on the bikes have all eventually gotten a corner bashed in. My ping setup is always a custom fitted super tight hard container, then foam padding to fit it inside the metal box. One custom container was folded up out of a thick cookie sheet, the other from a plastic tote lid. This container fits super tight, and really provides the first and most important layer of protection. Threads on how I did it buried somewhere, either in reviews or in pics.
But if you carry in a box that isn't custom fitted then some kind of padding between the hard box and the pouches is mandatory. Stick on neoprene looks perfect to me.
Similar materials without the sticky might be found cheaper. I have used both anti fatigue mats and thin mats for aerobics/ yoga to pad inside battery boxes. Also camping sleeping pads, and nowdays neoprene is used often for laptop and ebook bags. All findable for pennies on the dollar at the trift stores.
My other favorite material is coroplast. (political signs, etc) Free when the election is over and some schmuck that lost hasn't retrieved his signs. My lipo boxes are metal and wood, but use coroplast inside to prevent chafing and achieve a nice snug fit. With the coroplast, you could get sharp edges that could be a problem. You just have to do your best to avoid that, by folding along the corrugations as much as possible.