Kinda like that, I still did a bit of new vocab, but only vocab that was using the kanji I was learning, so that they married together well.
I still did lots of immersion though… But I would not count that as study, it was just enjoymemt time for me. I would say that I did between 3 and 3.5 hours of active study a day, and at least an hour of ‘fun’ immersion.
If I only had that time I’d still do it 100%, as it makes other aspects of learning the language much much easier. Kanji is the biggest wall to learning, but it’s definitely the one thing that (once finishing) will make your life a hell of a lot easier… Provided you learn them properly the first time.
If the method you’re doing now works well for you, that’s great too!
If you want to know if my method works for you, I’d say that you should do at least grades 1,2 and 3 (school learning order). If you don’t feel a huge benefit, then perhaps it’s not the best for you.