I would absolutely love and prefer for Singer to host this. It seems like that is rare these days. I am not sure why. Back than you also had Walt Disney and Alfred Hitchcock hosting their own series. I really know nothing about Alfred Hitchcock Presents. But I know that Walt Disney was clearly the driving force behind his weekly television series. Even if he did not personally write or direct the actual content. Disney felt uncomfortable filming his hosting segments. But did it because he knew he was the only one who could do it. I remember reading someone speculate that Amazing Stories was hurt by Steven Spielberg not hosting that show. Without him up front it had no identity. Just another producer credit for him.
I imagine Singer would be criticized and judged for trying to replace Rod Serling if he hosted this new show. He is already getting it for simply producing a new one. Hosting it would greatly amplify that criticism. I guess its depends whether Singer is willing to face all that.