nono. Mv2 has two "converter" apps: (1) RulesetConverter.exe (2) ConfigConverter/ConfigConverter.exe
(1) if you double-click RulesetConverter.exe (see screenshot #1) you can browse to an OxC .rul file and convert its "terrains:" definitions (if it has any) to a MapTilesets.yml for Mv2. By default it assumes that the basepath of your "terrains" (that is, the parent directory of the MAPS, ROUTES, AND TERRAIN directories) is going to be the same as the basepath set by the Configurator of Mv2. So tick the "add Basepath" box (and browse to the basepath of your MAPS, ROUTES, AND TERRAIN directories) only if you intend to set Mv2's Configurator basepath to some other directory.
For example, since Mv2 requires the CURSOR.PCK+TAB in xcom's UFOGRAPH directory (and benefits from SCANG.DAT and LOFTEMPS.DAT in GEODATA) set the Configurator's basepath to the parent of those directories (in Mv2 itself). But if the MAPS, ROUTES, AND TERRAIN directories that you want to work with are under some other directory, then the "add Basepath" browser should point to the latter.
( Note that multiple MapTilesets.yml can be merged together in a text editor. )
(2) ConfigConverter.exe on the other hand (see screenshot #2) parses the Mv1 config files (MapEdit.dat, Images.dat, Paths.pth) and tries to output a MapTilesets.yml based on those.
MapEdit.dat by itself isn't enough ...
basically, i need the fullpath of your UFOGRAPH folder, and the .rul file(s) from say FMP that has its "terrains" definitions -- as input for the RulesetConverter. Or MapEdit.dat, Images.dat, Paths.pth -- as input for the ConfigConverter.
or try it yerself,