I play this way in many partnerships and generally prefer it. The issue is that even if you open 1nt with all 5332 hands in range, opener having a five card major is a rare event. So you end up “fishing” with puppet a lot without catching many fish. Puppet wins when you have a 5-3 major fit with both hands balanced AND this major fit plays better than 3nt. Puppet loses when you have a 5-3 major fit that plays worse than 3nt. But puppet also loses when opponents double puppet stayman for the lead (and you would’ve bid 1n-3n otherwise). And puppet loses when opponents double responders major suit bid (1nt-3c-3d-3M instead of 1nt-2c-2x). And puppet loses when the puppet auction helps opponents defend better by giving more info. And all the losses above can easily happen even when opener has NO 5-card major, which is the vast majority of the time. With that said, it’s important to be able to show shortage on 3-1 major hands because here the 5-3 major fit is a big win (but 3nt could be bad even if opener has no 5M, so I prefer to show these directly and not bid puppet).