We often do it like this in the oven (although on a flat "cooling" rack over a cookie sheet), in order to do larger quantities at once while paying attention to other things (frying eggs, toasting bagels, etc.). It's perfectly fine.
Nevertheless, the absolute best bacon will always be fried on cast iron over open flame (such as a gas burner).
Cast iron on electric top isn't the same, and non-stick over open flame isn't the same -- it has to be cast iron over open flame. Something about that combination produces the best bacon.