I think it depends on your goals. As long as you understand that the ponds only purpose and future is catfish and stunted crappie, I guess its OK.

Could be a tough management challenge. Crappie could give catfish a spawn survival problem and large cats can certainly disrupt crappie nesting. You need to also consider your biomass. A healthy pond can support about 50 to 75 pounds of predators and both cats and crappie are top line predators. Whoppers limit the numbers of mid range and smaller "up and coming" cats/bass/hybrids, etc. You can do it any way you want to but there are trade offs and penalties. A whole buncha big cats in a small one acre water hole might be tough to maintain. But, throw in a lot of elbow greas and a whole buncha cash and you might just make it work.