That would probably do just fine, but a corded grinder would probably do better. Some of the cordless non branded grinders are now so cheap we have a number of customers that bought one just for holesaws and box all their bits in with the cheapie grinder to save taking blades off their their regular machine each time the wanted to drill a hole.
The M14 threaded dry bits are designed to run at 10,000 rpm but we have customers that use an M14 to Hex adapter and fit them in drills. Not recommended but it works, particularly in marble, travertine limestone etc.