I think it'd make a cool wall hanger, but I think you're going to have to decide between a bow which looks just liek that bow and hangs on the wall, or a bow which looks somewhat similar and can actually shoot reliable with more than 5lbs draw weight.
FWIW I have seen somewhere a few really nice and functional replicas of the other bow in the bottom picture. The black one thats almost like an angular egyptian bow. I think the guy used like 3 or 4 or more laminations of hickory and I wanna say ipe or osage, then painted the whole thing.