There are two things that you should be worried about when choosing a host that is new:
1. Do they have enough experience to provide you with the support you need?
2. How much longer are they gonna stay on the market rather than how much time they spent? For instance, you have paid annually or biennially or triennially and they disappear in 5 months then what will happen. It is not about the money, it's about the data, files, databases and email, and other stuff you are hosting.
There is a minor difference in the hardware between every host. some are using better hardware and some are using average. But what matters most here is the support. Are they willing to work hard to make your experience better every day and provide you everything you need? Sometimes a hosting company is new but they can provide a lot better services than the ones that are even giants or stayed on market for so long. We've clients that left huge companies like, rackspace, inmotion, digitalocean, godaddy, and moved to us when we were a year or two old. And we were not actually a year old, because we rebraded and changed our name. A new domain and a new look everything was new and new customers would take us as new in the market.