Aside from the obvious (rooster guarding the henhouse), do we really need another agency of Big Gumment to lord over this? Expanding government is rarely a good idea, in the best of cases. Expanding it to somehow govern technology seems a fool's errand (and another excuse to widen the money pit).
There is a reason that the Right battles to cut funding for such agencies. Historically, they waste huge amounts of money, and they pursue their own agendas (see the FCC and others for prime examples).
If established, we'll need an Inspector General to keep tabs on it (with requisite staffing, quarters, etc.), House Oversight will need to hold more hearings, and all the while contrary to the Constitution, Congress will have abrogated its responsibilities to yet another agency of unelected, self-aggrandizing incompetents (read: The Deep State).
No, not a good idea in my book.