Whilst it may work for some, I can't help but feel that current cutbacks and the general way things are going make the Armed Forces look more like a first career than a lifetime one. With that in mind, I would feel concerned that this degree would leave ex-service personnel looking a bit one-dimensional when applying for new jobs.
The cynic in me is also concerned that the University of Wolverhampton is unlikely to attract otherwise Oxbridge candidates and I struggle to see it in the role of Academy of Excellence for future military bright stars, or something akin to Westpoint. If the military is not happy with the output quality of its trainees, it would seem more logical to tackle this directly through improved military initial training & through-life training than to hope for individuals to address the issue pre-employment.