The real hiccup is that a version of this storytelling methodology was not only previously used in Captain America: The First Avenger, but is also expected to be a part of the upcoming Captain Marvel.
They could find a way to get creative with it, though, and avoid making it feel like treaded material.
Reflecting on what Peyton Reed wanted to do with the Fantastic Four, the concept could potentially be a wonderful fit for the Marvel Cinematic Universe — but there is kind of a catch.
On the plus side, the movie would be stylistically different than all of the previous franchise films and other iterations thanks to the groovy setting, and their absence from modern day action could easily be explained away by saying that they’ve been lost/trapped in another dimension for decades.