Just did some stat analysis at level 85 here with some assumptions made about stat availability on mods:

Given the low damage output of a Cody full clone team, this seems like a legit way to increase their survivability. Thematically it works well as a 5-alive clone squad will have a very large defense bonus and as they get killed one by one, the bonus slowly disappears, meaning the ehp gain per basic starts to dwindle.
Bearing in mind that fives will most certainly be left for last, his apparent massive bonuses will count for much less than the squishy clones. Also, letting the protection gain apply to basic abilities is a good balance.
I think this is a great start to make a big difference to clone squad viability!