Ya know, I'm with the OP on this.  It eliminates premine and also eliminates the creation of new coins with no purpose.  Reduce, reuse, & recycle, right?

Honestly, I would imagine it would take a bit more work to revive a seemingly dead coin because you have the uphill battle of changing perception and retooling whatever needs to be done.  Then there's the issue with marketing the same brand under new ownership.  But still, it should at least be seen as a healthy alternative to the development of a new coin with no function.