So, say Asmo decided to move to Texas and run for governor. He would not have to acknowledge the existence of God - he could simply say that he does acknowledge the existence of a Supreme Being (himself), and he would qualify. It doesn't exactly ban atheists from public office.
Isn't that kinda like saying segregation is ok as long as it's separate but equal? Or better like saying Jim Crow laws are ok as long as they aren't against minorities, just people who aren't white? (not that I'm saying you're advocating racism) It's a "heathen" filter plain and simple.