Unfortunatly many do not know the combat side of any internal arts. Taichi has been over taken by a health movement, which is great for health, but bad for tai chi.
I have met hundreds of instructors who know little about how to use tai chi in combat, among those that do, I find that just a very small percent really know how to apply the art. many use the art externally, claiming that with softness or slowness they are internal, bad news, this is not so.
The internal aspects of combat are being lost and have been being lost for decades and it won't be long till they are all but gone, I really hope to change this in what ever way I can, I owe the martial arts much, it has given me alot over the last few decades and will return what I can.
Now I guess I should get back to your question.
No, though it would still promote health because of the physical and mental movements, it will lose the real health values on internal arts.
the relaxation, whole but sperate body movement, and quiet mind can only be reached through practice of application in conjunction with solo practice and a real good teacher to guide you.