I wouldn't call it a red flag...but it's something that you are going to have to consider. I would learn as much as you can about the chair and PD. Do they have any experience with residency programs? What are their plans for the residency program? Why open a residency program with Case Western in town? What niche do they fill? Rotation sites? Do any of the attendings have experience teaching?
Every program wants to claim that it is well rounded...but there are definitely strengths and weaknesses of programs. Baylor for instance...may be as good as it gets for inpatient. Mayo on the other hand...elite outpatient exposure, especially if your into ultrasound guided injections. Where does the Cleveland clinic see itself on that spectrum? And does the residency have the resources (money, equipment, patient types, and attendings) to accomplish it? They are all questions I would ask the PD and Chair.
In many ways, if you rank the program...you are going to be buying the chair and PD...because everything you know about the program will come from them. You won't be able to benefit from talking to residents. You will be by yourself as a PGY-2...so you won't get the benefit of having senior residents to speak with while in residency. Cleveland Clinic has a great name...but there is no resident network...so I think that nullifies the name a bit.
Would I rank a new program highly? Yes...but I really do have to buy in to the program and chair/PD. Would I rank it over one of the more renown programs with a strong track record of being a strong residency? Probably not...but you are going to have to decide that for yourself.