If you want to get as much from your current workstation, that might be the only way to do so.
I am also sad to give away my 2670v2 because despite being very slow in multithreaded performance by current contemporaries, it has 64GB memory which alone now costs more than the whole PC is worth in terms of performance :- ).
So I'll keep it for our modeler.
Upgrading to 1950X wouldn't make much sense exactly because of what you write, the obscene memory price compared to only getting 50 +/- perc. better performance. You can get 1950X for 500 Euro right now on internet, but 64GB memory ? 700+ Euro.