It's awesome for stability. My workout partner struggles to push up from behind the neck & ends up pushing up snd forward which pushes his body to lean forward and he can't stabilize. Give it a try!
Your hands need to either move out a touch or elbows need to come closer to your body. Wrists and elbows need to be on the same plane to lessen injury to the joint.
Limited ankle mobility is causing your knees to cave. Better fix that before you start loading heavier weight as it will get worse. Consider using barefoot and zero drop shoes