No, it would still be extremely creepy to have Emma be romantically involved with her baby daddy’s, mother’s former lover.
When phrased like this… it sounds as if you would find it on those daytime television shows (Jerry Springer or similar).
It definitely shows how the six degrees of separation can create for some awkward connections.
Personally I like the idea of CaptainSwan only in so much they make an interesting pair however I do not think they would be able to go long-term (Hook and his deal with children and Emma’s life being Henry as someone else mentioned). They can at least some fun times though…