my only concern is in the long run it does buff the English Channel again.
I mean, the only additional nodes EC would be able to pull from would be Safi, Tunis, Sevilla and Valencia itself. The sole significant buff would be the connection from Sevilla, but by the time whoever controls EC also controls enough trade in Valencia to pull from Sevilla it wouldn't really matter anymore. It wouldn't be absolutely gamebreaking, like if Alexandria also flowed to Sevilla or Beijing flowed to Hangzhou.
During my first France game I've found it odd that after doing my conquests of Algeria and Egypt I'm unable to Divert their trade to my benefit unless I go all in on Genoa
But France needs to take Genoa to get Egyptian trade anyways, Alexandria only flows to Genoa, Venice and Constantinople. And Tunis/Safi are such garbage nodes that even if Valencia
did flow to Bordeaux you'd barely make any money after Spain leechs off most of it in Valencia.