That would be fine (probably on another domain), but NovelUpdates does exist. Now NU doesn't host content - only links to it - so I wouldn't say a theoretical "NovelDex" doesn't have anything new to offer. Some of those assorted websites are more pleasant to read from than others, some more customizable than others, etc. Sometimes links go dead without warning too.
@Zephyrus
I'd personally love to see this happen but it probably won't be implemented for years even if the dev team agreed to pursue it. Still waiting on v5 to come out.
If this was strongly considered, then instead of doing it alone with your core crew you may consider doing in collaboration with some existing groups who host their own websites for novels, and give others a better alternative to WordPress. Whether that is truly realistic would depend upon the personality/group culture of various groups. But there being a lot of work to build and maintain those sites, so a combined effort could be seen as a boon in that way... in theory. More hands and avoiding a replication of effort could make things easier... again in theory.