If you're content losing 90% of your followers because the server you host on decides to implement draconian censorship or start charging $50/mo, then yeah, be my guest and use the protocol as it is.

I personally think tying identity to a particular server instance is the wrong approach, whether you can beg your followers to come find your new location or not.

Also, your method only works if the server is still up. If your host server is taken down indefinitely, then you truly do get to rebuild your network again. Fun.