It would turn heads but would it be a worthy investment in the end? I cited Blue Dragon as an example of a game that also turned heads but didn't really move the needle in Japan or the west. It's more of an image problem than anything else. Most people don't associate Microsoft/Xbox with Japanese IP. Well, I take that back somewhat. Wasn't there a joke that Xbox 360 in Japan was basically the Idolmaster console?
I'm sure that there are plenty of Japanese games on the 360 that did well, like the Dark Souls games, Fighting games, Metal Gear Rising, etc.
You cited a console JRPG, which is a genre that, in general, hasn't been big or as big as generations prior. Exclusives are exclusives and Microsoft needs them. You ask if it's even worth it, but there's excitement for AAA Japanese games across the board. Many of us complain that too many Japanese devs are on mobile or handhelds. If Microsoft can bring some of that talent to consoles, how is that not worth it?