Hmm. Not really. Though if the product team are interested in the idea, and the dev team think that’s the best way to implement it then I’m not against it. 
But in my mind it would stay as a pending ‘item’ and be editable from your /pending page (with at least the appearance of it being a post/topic). The PM you receive on ‘Revise’ would ostensibly be the same as now but with a link directing you to where the pending item can be edited, and a generic ‘you have {30 days} to revise and resubmit your contribution before it’s automatically deleted’ (or some such)