This is not a good reason if there are cheaper ways to get safety (at least for existing codebases). Indeed, there are sound static analysis tools (like TrustInSoft) that guarantee no undefined behaviour in C code. Using them is not completely free, and it may even require adding annotations to the code or even changing the code, but it does seem significantly cheaper than a rewrite (in any language). Such sound static analysis tools are already being used for safety-critical systems in C, and I believe they are more popular than a rewrite in Rust in that domain (where there are reasons not to rewrite in Rust other than just cost, though).