It might work in the long run, but huge changes like that in the squad are likely to make it difficult for players to fit in. New players often need time to gel. I'm not sure what year you're in, but I hope you got some good deals for players like Cabaye and Coloccini. Those two alone should have made you around £40m, leaving you with alot of money to strengthen. A whole team of youngsters is very difficult to succeed with, you usually need some experienced players in your team as well. I have a very young team myself, with only three players older than 25. It's working out very well for me, but I've made sure to always have experienced players like Agger, Gerrard, Suarez, Lucas in the squad.
Like I said I don't know what year you're in, but I got a feeling players like Rivaldo and Pires have taken massive drops in their attributes, including the mental ones. I never sign players purely for the sake of tutoring, but I know some people do with success. Remember you can use players as young as 23 to tutor others, so there's rarely a need of signing new players for the sole purpose of tutoring.