From reading your article, wouldn’t the serial registration also help prevent US drug cartels from spamming mexico with ghost guns, which could be traced back to crime organizations?
The entire premise to the ghost gun fearmongering is the lack of traceability - “serial numbers” aren’t part of it.
I somehow suspect a cartel manufacturing firearms isn’t going to bother registering it before trafficking it to Mexico. So, no - it would be entirely ineffective.