It of course depends what kind of degradation we are talking about here (the neutron hopping already does degrade the FSD, after all), but risking significant a lot just to skip 5-6 jumps? Probably not.
I don't think it is possible to make very consistent and still have it fun. All heat generated by any weapon system would be minuscule compared to skimming Bellatrix and balancing space magic shielding against neutron stars would be even more ridiculous.
And as I noted - there's the risk. What do people generally consider a risky business, being shot down in PvP? It's nothing compared to blowing up on the other side of the galaxy.
I don't see why having to stop and do a systems check or repair job after one or a few neutron jumps is an issue. It would make the jumps mean something. The commander would have to prepare and evaluate whether the risk is worth it, and the commander might even experience a bit of a thrill of a succesful jump.
About the balancing, consistency and fun, we differ in opinion there again. The mechanics of space flight and battle would need a good rework to make the experience consistent and playable: Having an increased chance of the ship getting destroyed by the natural environment could be countered by means to recover data and assets (personalised black box recovery, for example). The energy weapons could be different from lasers or at frequencies the shields are not meant to protect against originally. That would make sense too, as shielding would first have been invented to keep space from chewing up our ships. Next we would realise that the second-most dangerous thing in the universe is other people...
The natural environment should not be balanced. There should be parts of it that would eat us without hesitation if we were dumb enough to go there. Close to stars and black holes are the obvious examples. Others could be areas of high star density where radiation and stellar winds are pumping hard. When/if we get atmospheric flight, venturing into dense atmospheres and in place with high wind shear could tear us to bits too, at least overwhelm maneuverability if we are not careful.

S