For the first couple of years. I have three young Bloods in a rack similar to that right now. They are literally pet rocks and never move. Mine will be needing a new home this year but they have been fine in the rack so far. I have been growing them slow though so I may have gotten more use out of my rack than some others might have.
If you get the Blood young you will need something smaller than its forever home that it will need once fully grown. A rack can work just fine for that as long as you understand it will need a much larger home later.