Unfortunately, we're left with a flaw there, as God's omnipotent and omniscient. Moment's before Satan was created, God would've known that if he created Satan, Satan was going to rebel and cause a shit ton of pain and destruction, yet God created Satan anyway. That's an evil thing to do, but God' can't do evil, so that's a problem.
Also, as God is all good, does that mean allowing free will is good and inhibiting it is bad? We easily see that as not the case, as if you let a man murder a kid, we'd say you were evil for allowing that to happen, and if you stopped it, we wouldn't be angry at you for stopping his free will.
We also have the issue of non-moral evil, like babies getting diseases, which isn't the result of free will, but instead things like diseases, down syndrome and all that stuff that isn't the result of free will, but simply the result of the universe designed by God.
We also have many cases of God ignoring free will, such as when he destroys people in Bible like Sodom and Gomorrah, or when he hardens the Pharoah's hearts, or turn's Lot's wife to salt. So clearly, free will isn't too important to him.