Is it worse than the cattle industry? Worse than re-introducing wolves to Yellowstone? Worse than engineering mosquitoes to be sterile? They all have their cost.
This cost is measured in African elephant abuse. A sound argument. The ecosystem argument, not so much as they also elaborate competently on.
Let's admit, the single reason to 'bring back' the Mammoth is, it's cool and a tremendous publicity scheme for ecological efforts. That alone, may be reason enough.
And, anything that brings in the dollars is going to happen. Argue all you want, about ecology and seed dispersal and other 'real' effects. The money a Mammoth park would bring, the imaginations stimulated and the youth inspired, could be worth it all on it's own.