Yes, this is a perfectly valid scenario.
At this time, Connect does not support any kind of type change for synchronized items (except delete old and create new - which is not ideal).
This is a known limitation in multiple ways (support type change, if not support type change, "somehow" mark old item to indicate type change, etc.).
Currently, this is on the backlog, but not in any particularly high position - setting idea status to "Waiting for Votes".