I'd recommend a bypass! And see my post here about where the bypass should be:
Not hating at all (you know I'm a big fan!!) but from my understanding of flow, I think this design would work even better if the reactor was in the middle, and the bypass on the outside.
The current design:

Water takes the "path of least resistance", which is mostly through the reactor. Probably 90% of the water flow goes through the reactor no matter what, and ~10% can be adjusted with the valve, in the current orientation, due to friction around the corner, etc. Not all, but most, flow goes through the reactor, so maybe not much can be adjusted with the valve.
If you were...
You can also run two return lines, where one has a valve for slow reactor flow and the other is fully open for max flow. Two return lines in a tank helps with good circular flow, too: