What's the point of the rewrite if it doesn't fix the underlying issues, though? A rewrite being a good idea often hinges on the ability to simplify. After a decade or more, it's now apparent what the application should and shouldn't do, so one can build it with those learnings and shed all tech debt from how it grew organically. Aka preserving all behavior is not what I would want from a rewrite. The point would be…
Say I rewrite a large codebase from python to C++, preserving all behavior. That's up to a 50x speed up.
Incidentally, Whenever i've done this in the past it's had a pleasant side effect of improving architecture. You end up forcing something akin to "push for's down and pull if's up" because crossing the ffi boundary is not free. It can be quite magical, as in leading to comically unbelievably speed ups when you also take advantage of vector intrinsics.