Cleats right on top of pegboard

I've got a typical pegboard on one corner of the garage where my workbench is and having been meaning to rip it out and replace it with a cleats. I do use the pegboard and would miss a few things about it and realized that I don't have to rip out the pegboard, I can just put the cleats right on it and have the pegboard as backing. I can leave small sections cleatless and continue using the pegboard there, and use the cleats everywhere else. If I ever change my mind, I can either remove/reduce the cleats or add more to the missing sections with almost no drawbacks.

Any obvious pitfalls in missing?