Incorrect, sorry bud.
That loop is perfectly fine for a parallel circuit, where all 3 blocks are in parallel.
Water will follow the path of least resistance, and each block presents some resistance. Once one block is met, the water will go to the next block, and again the next. It won't resist itself so when it meets itself at the junctions, it'll merge and flow back to the pump. Hope that makes sense!
Had you of drawn the connection of the bottom gpu to the rad differently, such as green of bottom gpu to red of the rad, then that would be very bad - no blocks would have been in circuit.