I think there are probably three cases here:
(1) You have perfectly good software and your only motivation to rewrite is infatuation with how great Rust seems. In this case, yes, that's unproductive. (Infatuation-driven design is poor engineering and is a fairly widespread problem in the software industry.)
(2) You already have other reasons to want to rewrite (design could be improved, code is in a poor state, etc.), and you're deciding between languages. In that case, a rewrite could be productive even if you didn't use Rust.
(3) You have mature software that appears relatively free of obvious, known bugs, but it's written in an unsafe language, and it would be valuable to have the additional confidence that a safe language could provide. Security-sensitive or other critical applications are where this is most likely to make sense.