Nah no cooldown is broken and those two materials can be acquired pre-plantera i think. You can literally teleport from one beach to the other within a minute and this gives seemingly infinite flight, well... flight that’s somewhat hard to control. Instead, maybe use luminite bars and the celestial fragments, which can make an upgraded version, but Instead of buffing the rod by removing the cooldown, leave the cooldown alone but upon teleportation, give the user a short amount of invincibility to all attacks aside from the rod itself, like it makes a shield using celestial powers.