Nah, not the worse case scenario, not at all, just seems.... odd how the Arab nations are all keen on working together under a Saudi King of all people.
Steward of Mecca or no, even I find that unusual.
Alot of people do hate the Saudis but in general I think the Saudis influence is underrated. The Saudi clergy combined with Egypt's Al Azhar would give them a decisive edge and influence over the faithful.
Current Saudi military alliance is actually pretty similar to this. The ground work for this modern alliance was laid by Faisal's son coincidentally: