Does it do what you want? Yes? Then go on to the next project.
However, this kind of thing which uses lots of delays could be usefully re-written to work without delays. That might be the basis for your next project - allow your Arduino to do something else at the same time as flashing the lights.
Another thing you might consider is storing the sequence in an array and then your function will be very simple - it just executes one step of the stored data instead of having it all written out in the function code.