It doesn't quite work out for a centralized utility scale battery unless it gets built gradually over the expected lifetime of the component batteries, as most existing infrastructure projects tend to get financed and built all at once, so all the batteries are the same age and are likely to require replacement around the same time. On a small scale that is quite visible with UPS batteries in data centers that all fail at once.
The easiest way to avoid that is to slow things down and build up a decentralized grid scale battery over time through incentives.