Sadly, I'd say probably yes - that's a "bad" moveset. Compared to Counter, BP does lower DPS (even before factoring in the loss of STAB) and does not attack super effective into normal-type mons. Machamp's primary role is as a niche attacker into Snorlax and Blissey; losing the higher DPS plus SE bonus of a fighting quick move will make these matchups a lot less favorable.
FWIW I have a legacy KC/Cross Chop Machamp at lvl. 30, and while it does a pretty decent job against Snorlaxes and Blisseys, I don't find it to be amazing - it takes a while to defeat opponents, and my Machamp takes a fair amount of damage while doing so. I'm guessing this BP/CC Machamp will perform similarly, if not a bit worse.