The success of this look really hinges on Leto's delivery. Ledgers look fit the character he played in his movie and played very true to certain iterations of the Joker character.

This look can work well if played in a way that justifies the look, if that makes sense.

Personally, I prefer a new visual interpretation over an attempt to recreate some of his comic iterations, especially if the "soul" of the Joker is respectfully present.

I will say this look can certainly land with a thud if Leto doesn't deliver a compelling take that lends credence to his appearance. I have enough faith in him to give us something good so I'll hold off on my judgment.