Power supply is an issue. According to this https://www.arl.army.mil/arlreports/2002/ARL-TR-2764.pdf (some research done for the army) you need about 6kw to fully supply any possible need for one suit. Now, two 240V lines from a house (the dryer plug) can supply this, or you can make a shitty, slow suit that runs off of a 4kw diesel generator strapped to the back. Then you can armor it like a son of a bitch and hope for the best. At best though, that's an engineer's garage project run on a raspberry pi and a mark 1 nvg taped to the front. Could be useful in a warehouse scenario where you can just have power plugs everywhere and don't need to be fast.
HOWEVER
I had another idea involving special weapons teams. You use the mule in vid related that carries a very large power source and maybe a couple backpacks. Two or even three guys with long cables are attached to it which a) reduces weight on the suit proper and b) allows a much better power source to supply these suits. Maneuvers are done together and the team as a whole is a heavy weapons team. One guy has the super heavy machine gun and the others are point men. You send these guys in to clear a complex while your regulars flank, provide covering fire, etc. Said heavy weapons team draws lots of attention and blows shit up- you can even hide the dog behind cover or behind a suit, and even have regulars use a suit man as mobile cover. At least until we develop the miniaturized fission reactors that would be needed for the required output, it is something that could actually work. Hell, you can even mount a vehicle weapon or even little automated point defense guns for shooting down rockets onto the dog for even more protection and devastation.