Just did some hardcore testing. 
 


 
No failover as expected. WAN1 and WAN2 have less than 10ms latency and 0% loss.
 
Now , I have plugged a RPI in WAN2 , bridged the interfaces , added 100ms latency with tc.

 
 

 
Only met the first critieria of the Test custom performance class and the traffic did failover to WAN1.
 
 
TL;DR I was wrong, but nothing beats a real world test to prove me wrong !