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Mechanics of Re-pegging: The methods used to re-establish the peg would be critical. This may involve mechanisms like collateralization, which could require a carefully designed framework to ensure sustainability.

Regulatory Considerations: As stablecoins are under more scrutiny from regulators, ensuring compliance and transparency in operations would be vital to avoid legal hurdles that could jeopardize efforts.

Long-term Strategy: The long-term viability of this approach would depend on consistent demand for both tokens and careful management of both the supply and the peg mechanism to avoid the pitfalls that led to previous instability.

In conclusion, while the strategy of burning USTC and re-pegging both USTC and LUNC could potentially revitalize the ecosystem, it would require meticulous planning, strong community involvement, and responsive management to navigate the associated risks and uncertainties effectively.