In a way it's nothing new. MOSIX/openMosix (https://en.wikipedia.org/wiki/MOSIX, https://en.wikipedia.org/wiki/OpenMosix) did similar stuff with individual processes. It would probably be even faster as then you would have to only move process memory and its state rather than the whole VM memory (and it state).

I guess it would/could be nice to have something that moves kubernetes pods around rather killing them and starting new ones.