I see little of interest in this move.
Blair took Labour to the centre groundand we ended up with Tory Lite for 13 years. Cameron also repositioned more centrist, so that there was very little between Labour and Tory, resulting in the hung parliament of 2010, a small majority in 2015 and no overall majority in 2017.
Now there is clear distance between the parties again, May has been forced to lurch rightwards, and Corbyn has gone more leftwards. It seems like more of a choice than we have had for a long while.
Even if another party does set up tent in the centre, I am not sure any voters want a Blair/Cameron style leader and party.
A new party could be very disruptive to one of the main parties. The SDP effectively kept Labour our of power for two decades. Depending on the pitch of the new party, it could do the same to the Tories, or Labour again. Instead of being a good thing, it may possibly just keep the same party in power for a long time.