Thoughts?
Works great as long as there is no secondary consequence of the infestation. On the other hand for example, in the case of the exotic Shot Hole Borer here in California, the bugs carry a Fusarium fungus that will kill the host tree.
Woodpeckers and wasps aren't keeping emerald ash borers under control, mature ash forests in the east and upper midwest are still dying. Perhaps a tiny sliver of ash trees that's genetically resistant (as Asian ash trees are, since they coexist with the beetle) will survive and eventually repopulate, but that will take decades if it happens at all. In the meantime, treating the trees in your yard with insecticide is the only option. If you think woodpeckers will solve the problem, you'll just have dead ash trees in your yard.