Would the Madagascar Plan have been a good idea?

The Madagascar plan was not the brain child of the Nazi's or indeed Hitler, as to the possibility of it being a good idea, we will never know. If 55 million lives had been saved, where would we be now?, the world and it's resources are running lower and lower and we are not putting anything back. Oh how great hindsight is, but correcting human errors/mistakes do not necessarily mean today's world would be better.