It would be a huge risk as it is fabric and would be chewed threw especially by hamsters
If you make something out of solid storage cubes or coroplast it would most likely be cheaper,plus it would be much more durable and have no escape risks if set up well!You could even use cardboard in a pinch,which isn't chewproof,but is cheaper and safer as chewed materials would get ingested and at least cardboard is digestible!
You can make a base for a playpen out of the same material as the sides,by the way.Most people find metal ones completely pointless as hamsters escape too easy from them,but with solid sides which are tall enough to not get climbed that risk is eliminated!