My skepticism is based on what I have tested myself by redirecting a single page with too many spammy links (I would say, an infected page) to a new page tanked the traffic of the website. If you scale that, redirecting a penalised old domain to a new domain may give you the same bad result. Simple logic on my part.
I would rather work on reviving that established same old domain. Keep going. Do what you are supposed to do - clean it, brand build it further, etc.