Actually, it would. Not only will it miss align buffs due to pressing less buttons, this makes it impossible for Dragoon to double weave. Simply put, it would be a significant impact on the job. Not to mention, this turns it into an off-shot of Ninja. The whole point of Dragoon is a simplistic but long combo sequence. Combining half its combo together defeats that purpose.
As for the topic itself. No.
The combo consolidation reduces every job effected by it to essentially spamming a single button more often than not. While it may seem subtle, I much prefer having to press different buttons for each combo. Furthermore, it's actually more likely to fat finger your abilities as you wouldn't be able to rely on muscle memory. All in all, not only does Dragoon not have a button bloat issue at the moment. We simply don't need a bunch of new abilities anyway. I would much prefer they focus on the jobs dying off than try to shoehorn in new abilities to ones who don't need them just to say "look at the new shiny".