Theoretically, that would work. Here are comments and things to be advised of:
- I'm assuming by you posting this that you aren't supported. If that's the case, understand. But if you are covered by support, why don't you open an SR?
- If you do resort to building a new vCenter, do not build another Windows-based vCenter as this platform is dead and at the end of its line. The appliance should be the only thing you implement.
- If you do build a new vCenter and if you do swing hosts, keep in mind you will need to update and/or repoint any monitoring, backup, replication, etc applications at that new vCenter.
- Further to #3, the VMs that will get pulled back in will look like "new" VMs because of the new ID that get generated. This will cause various implications depending on what you have configured to talk to said vCenter.
- If you have vSAN, NSX, vRA, or some other higher layers, there will be special considerations and you probably don't want to yank hosts away without first understanding them.