For me, Favre always seemed a little out of his depth at Dortmund, although I must give credit in the '18-'19 season for that Dortmund taking things all the way down to the final match day. But he was very successful in his first spell at Gladbach and, more importantly, he's a steady hand and, given some of the turmoil at the club since Feb. 2021, that seems like the exact thing the club needs. A steady hand who knows the culture around the club and has had domestic success (in terms of making Europe) everywhere he's gone. I'm not expecting miracles by any means but I'm very happy to see him back, yes.
Odds are things will eventually spin out of control - they always have with Favre - but hopefully that's a couple years down the road.