Hi, RubyNala! No, I'm afraid it won't. I looked at them too at Tractor Supply when I was trying to come up with a frame, and it has multiple drawbacks. It's too small for any more than 2 or 3 chicks and wouldn't do well for long. It's so tall inside that the chicks aren't near the pad like they need to be in the beginning. Also the arch is so strongly curved they wouldn't be able to use the top to snooze and play on. Some folks here have used wire racks, wire shelving, and azygous even built a special frame made from camping foam and dowels. (I had my doubts about that one until I could actually see it built, but it's worked great!)
I'll bet that a pop flat (the cardboard that cans of pop or canned goods are in) would even work until you could figure out something with some kind of wire. Cut out an opening on the side so they can go in and out, then cover that with your pad and towel. It won't work for long, but it could get you started. You could even raise it up a little with something if it's not tall enough for your chicks. If it doesn't go all the way to the floor, that's okay. It'll just function more like those Eco-brooder or Brisneas that way, like aart's pseudo heat plate. Folks have used cookie cooling racks, a cookie sheet screwed to 2 pieces of wood - so many options! I'll see if can find aart's.
Edited to add link to aart's information.
https://www.backyardchickens.com/a/pseudo-brooder-heater-plate