What’s wrong with the theory is its illusions about “the working class” as the agency of social change.
No doubt system change will be required. A phase of ecosocialism will be required in order to de-fang capitalism. So Greens should run for office seeking influence and power at the “macro” level. But we must not forget how important it is to keep “walking on two legs” . . . one in the electoral arena and one in the social/ecological movements.
Most people will be more inclined to get involved with change at the micro level. We need a "greening of society" counterculture creating counter-institutions. That will constitute the “agency of change.” Its adherents and institutions will support the macro-level systemic transformation . . . not “the working class” or its institutions (which are primarily defensive in nature).