This might be better for the monarchists as they could simply end up repressing provincial bread revolts rather than putting a crap ton of angry reformers in the same location, which just so happened to be the most radical in the nation due to its high literacy rate and vibrant but downwardly mobile middle class who later would become sans cullottes, and giving them a platform from which to speak on.
The financial crisis that France found itself in was not irreversible. The failure of its tax collection efforts was an issue, but not all winters would be like the one that caused that huge bread price increase.
Louis might be best off if he devolves power to the regional parlements, because when THEY fail, and they will fail, to bring about what the people want, Louis looks much better by comparison. He could even do this in the same way that the Sun King did, in which he would pit the nobility who were causing the issue with their tax avoidance against the middle class and use his power strategically to balance the situation. But this particular Louis was not a very smart man, so I doubt that this would occur.