I think this is a pretty reasonable set of counter points, even if I don't agree with them.
Being part of team incremental rewrite, myself, I'd say that you're overestimating the cost of the incremental rewrite and underestimating the cost of the rewrite.
For your first 2 points especially, I'd argue if you can't even begin to incrementally rewrite a system, you're in no position to begin to plan a full rewrite.