Progress is good, what could go wrong?
If there is a problem, it will manifest in the imperfect handover of process state. I would not want to ever guarantee that every kernel update can be performed this way, or rely upon it. If there is a kernel bug it could negatively impact the ability to do the handoff.
I could see virtualizing the concept, being able to hand off the state of one machine to another machine not just on a local network, but in the cloud. Security would be “a matter of details.”