I think this is one of the best ideas going, but will probably fall flat on its face. Old aircraft are falling apart, and new aircraft are perilously expensive. So refurbish an old aircraft so that it might as well be a new aircraft, sell it for more than an old aircraft but less than new one.
Insurance will probably never catch up to this but I still think it a good idea. it will take some out of the box thinking to revive GA, if it ever is to be revitalized.
By the way, taking about the AOPA aircraft at Oshkosh, which was spanky. Don't know so much about this one.