I'm sure it would be as long as you aerate sufficiently. Sometimes we poke a lot of fun at people for being too cheap to shell out another $0.98 for a new package of Montrachet. This is a valid learning experience for all of you, and perhaps some day you will be pitching beer onto a yeast cake and creating something very exciting using the knowledge you've learned trying to re-use apfelwein yeast. The benefit to this is, until it's done, it's just $20 worth of juice(So if you really screw it up, you're not out that much), but when you're finished...It's Priceless Apfelwein.
Seriously. I'm here for BEER
It's Not The Size Of Your Rig That Counts....It's How Often You Use It.