Valve also implemented this on CS:GO back in 2015 [0], and enabled by default in competitive servers, so I would consider it absolutely tenable (FACEIT, the platform used by competitive variants, had their own hand-rolled SMAC implementation, before using the 1st party solution, albei,t that solution was buggy). Why Valve didn't port this over to CS2, I will never know.
[0]: https://www.reddit.com/r/GlobalOffensive/comments/35zwwy/opt...
PVS-based culling is very different from the kind of fog of war system in discussion here. The cases that these FoW systems purports to deal with would all be "pass" cases for PVS culling.
PVS culling solves the informational/strategic advantage aspect provided by wallhacks, but not the pre-aiming reaction-time advantage in a peeker vs holder scenario.
> so I would consider it absolutely tenable
Always confuses me why people speak so authoritatively on topics they aren't versed in. PVS culling is not even remotely comparable to occlusion culling, mainly because wallhacks are not relevant accross the map; in fact they are only useful when opponents are always well into your PVS range.
FYI: there are also some clever ways to get around PVS culling (mostly by inferring opponent position based on other indicators, like gunfire).