It should...but there's a few things you might consider:
First of all, given that the M32 and the Circadian Rhythms are very 'controller-esque', I would suggest putting those in the bottom row to make them easier to work with in that way. The other thing you'll probably want down there would be some type of performance mixer; consider something that gives you VCA control over level, pan, AND fx sends, because you've got some things here that really scream for that sort of fx send-return type of mixer architecture.
Second, use the hell out of your 1U rows. If these aren't Intellijel-format (which I'm betting they're not, given the width of the cab), seriously consider stacking those up with all sorts of 'unsexy' modules, such as VCAs, attenuverters, mults, S&Hs, audio and CV mixers, etc etc etc. Go nuts on those. The more of these basic functions you can add in 1U will result in more complex functionality for your 'sexy' 3U modules, ergo you can stack more of that in for weirder functionalities.
Last, modulation sources...you have the space to get really crazy with that. It wouldn't be too nuts to drop in a Maths, Tides, and something else altogether to give you a really open-ended set of modulation possibilities.
This has some real potential to it...and no, starting with a patchable like the Mother32 isn't a bad idea at all. In fact, I'm currently mulling over a semi-portable Eurorack rig based around the two new Arturia Minibrutes + two of the Rackbrutes...and I've been doing this sort of craziness for abot 40 years now! So if it works...it works!