I'd temper that a bit: to begin with, waifu is good at very specific things, but most importantly, it only does fixed, power of 2 scaling multipliers, as the name implies.
In this case, a single scaling pass with a decent algorithm will probably yield better results than a waifu upscale followed by a downscale.
I've posted my usual ImageMagick processing pass a couple of times over here, if someone is looking for inspiration (the most recent time must have been in one of the FBInk threads)

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