I don't hate this idea. I really think there's not much more I need to see from Madrigal at this point. He's decent defender, yesterday's error being a glaring exception, but he's had 614 PA with the Cubs and has a .617 OPS. He has options so you can't have to DFA him if you're really not ready to completely give up on him yet (though you'd have to find some other way to clear a 40 man spot, maybe DFA Mastrobuoni instead).
I'm very dubious about numbers in Iowa, but I don't hate the idea of trying something different, especially a guy that has hit in the major leagues before, albeit was pretty up and down here.