Last summer on my pitch I did what collostomy ^^ did (but on my downtube) without a major problem.
I just (a) had to be careful placing it between the BB and headtube as there was only one exact place where the wheel wouldn’t rub on the top of the bottle on full fork compression and (b) no matter how tight I did the zip ties it’d creep slightly off-center, so depending on how rocky my ride was I’d just scootch it round a bit once or twice (I ended up using the ‘lower’ bottle first and it wouldn’t move when empty)
Never got that muddy TBH as only used it on very hot days, and never caught it on undergrowth as it’s in line with the front wheel. I’d go for it 🙂
[edit]
I used a second bottle as I can’t stand camelbacks, they’re sweaty and do my lower back in 😐