You may be right, but I don't think so. The goal isn't to remove all connection to the flag in the minds of everyone who sees WW forever, it's to have a decent, simple, and sensible in-story rationale for why her costume has the elements it does. That is a much different standard. The previous generation of comics readers accepted the Diana Trevor story, for the most part, which is wildly more complicated than this and a HUGE intrusion on the golden age origin. My smoothing out the edges is very minor in comparison.
And again, the one element from the flag is the stars. There is no maple leaf or similar American counterpart.