A long requested feature "server reinstall" has now been partially added to API and control panel. Not to be confused with server reinstall which changes os image and required a different image to work.
Reinstall now works for G1 servers, and we expect to implement support for G2 and G3 soon as well.
Do note that currently, reinstall will trigger a change in password. So if you rely on password authentication, do not use this feature at all as your password and thereby access will be lost permanently, this is nothing we can fix at the moment, however we are looking into alternative solutions.
If you use SSH authentication (managed) your public key will be properly reinstalled and access will work after reinstall, tho you may need to remove the server from .ssh/known_hosts first as the fingerprint will change.