If you do not invalidate the old seed key and generate a new one, then all secrets associated with the compromised install (and thus tainted) will remain valid.
And there's more: there are various bits stored in EFI vars NVRAM that need to be reset too (shim keys for example).
systemd for a longer time has had really nice support for resetting your HDD (i.e. securely erase partitions, via the systemd-repart FactoryReset= knob) if a factory reset is requested.