Too much W, I think
If the cratering was not old in the basin, you could make a case that it could be an aborted version of the Venusian crustal turnover.
But the cratering age and count doesn't support that, I beleive.
And the geometry of the basin as roughly across the globe from Olympous, implies a reactionary cause resulting from the huge blow of the planetoid strike at Hellas.
Just a free opinion.
It seems more likely that Mars has been cold and dry and tectonically only intermittently and weakly active for a very long time.
Ed