Shonky dripper setup.. will it work?

You wanna cover the water completely.. Your exposed reservoir is a breeding ground for Bacteria... This a noble attempt for your gonna have to put some serious work into blacking out the reservoir more.. or risk some really gnarly bacteria build ups.. Also the color of the water says you didn't rinse the medium before you started using it.. Rinse the medium when using for hydroponics.. there are quite a few issues.,.. www.growwweedeasy.com

I agree with smoke this is not enough drainage with Hydroponics.. Your gonna have problems.. Use Clay Pellets.. Rocks.. Rockwool.. lots of neutral fast drainage mediums are good for hydroponics.. But coco coir and perlite are generally used for types of drain to waste systems and generally speaking not for hydroponics.

I'd be worried about having the medium constantly saturated.