The performance-based routing rules are consulted before the policy-based rules, so if you can establish VPN over both MPLS/ADSL interfaces as you described, and if the flow matches the performance rule, and you only have 1 path that satisfies that performance-based rule, then it'll ignore any policy-based rule and just go by the performance-based rule, and won't make it to the primary tunnel selection. If a performance rule is NOT matched, it'll then check any policy-based rules and send out the flow based on whichever egress is specified by the policy, and if there's no actual policy-based rules it should fall through to the primary tunnel.
[Edit] I realized I typed up all that and remembered there's a good flowchart in the documentation here: https://documentation.meraki.com/Architectures_and_Best_Practices/Cisco_Meraki_Best_Practice_Design/... and I didn't touch on every permutation but hopefully the flowchart and the step-by-step walk-through helps clarify what I probably didn't above! 🙂