It's more a matter of best practices than technical details.
You can build a skyscraper on top of the foundations of a shed, and the kernel devs have done an amazing job at that, but at some point you gotta conclude that maybe it is better to start from scratch with a new design. And security is a good enough reason.
Agreed, but...
> rewrite the kernel
Why would you do that? The kernel already has all the tools you need for isolating apps from each other. It's up to userspace to use these tools.