I don't think the iffy early results materially change Cook's bust chances, but I could see how they might be viewed as reducing his chance's of maximizing the ceiling. I believe if Cook can't make the new swing profile work he can always revert to the slap hitting style he employed in college and experience some success. He's likely the fastest player in the minors and I've seen reports that suggest he could capably man center field in the majors right now. It appears as though he basically possessed a Chandler Simpson style offensive toolset at the plate and if worse came to worse there's a good chance he could reach MLB using that kind of approach.
There was an interesting article in the Athletic over the winter that outlined the club's approach to Cook's offensive game.