Whether or not this policy makes us safer is debatable. The way the EO was implemented was symptomatic of an autocratic-leaning administration. The normal protocol for an EO calls for collaboration with other agencies to ensure legality under the constitution and to ensure that execution of the order is understood by the government officials who have to enforce it. At a minimum, this was very poorly handled and makes the WH look inept, malevolent, or both.
My view is that this EO oversteps the boundaries of executive powers and is discriminatory (on the basis of religion). Moreover, the intelligence community views this as a strategic misstep in foreign policy. It seemingly is a solution to a problem that does not exist. Fear mongering, playing to the base...
If Bannon wasn't running the WH, benefit of the doubt might be in order.