electronics noob here. This is more of an educational project for me, so I would like to have some feedback on the design I put together. What I am trying to accomplish is a simple 2-in-1-out micro usb mux, where both in can be connected and I have a switch to change between them. Here is my design (J1 out, J2, J3 in):

Few questions for me:
- Is this generally sane or are there some obvious drawbacks that I missed?
- I am not entirely sure how to connect all the VBUS pins from USB inputs. Is it fine to just connect them all together? I have seen several designs making use of diodes like D1 and D2 placements, are they really needed here or can I assume that the USB host can handle this? Is the forward voltage drop a problem or can I assume that the USB device does not care too much? Am I right to assume that having these prevents me from using this as a 2-out-1-in setup?
- The USB Mux (U2) has absolute maximum VCC rating of 7V. Therefor do I really need the voltage regulator? I suppose it is advised to use it, to get into the recommended VCC range?
- Do I need to worry about current flowing through the voltage regulator? It has a maximum rating in the 600~mA range which is fine for the USB Mux, so can I assume as long as the Mux does not draw that much current, the regulator is fine even though current on the VBUS can be higher?
- I basically just inserted C1 and C2 because I saw that being used everywhere else. Why is this needed?
- I have seen other circuits adding ESD protection diodes to the common VBUS. Do I need this?
Edit: Datasheet for the regulator, Datasheet for the USB Mux