I just finished moving my shop automations from one hub(C5) to another(C7). I did this by first moving all the rules to the C7 and using Hub mesh to link all the devices on the C5 to the C7. I did this a few rules and devices at a time as I had time to work on it.
When I started moving the devices from the C5 to the C7 I thought the option to replace a device after you added it would make things easy. I would turn off hub mesh and remove the device from the C5. This would leave a offline device on the C7 still attached to all the rules, dashboards, etc. When adding the device to the C7, it would not let me select the offline device to be replaced.
I could use the swap device option after adding the device, but it just added an extra step. This is probably not a standard use case but it seems if you can use the swap device with an offline device why not allow the replace device option to see them as well.