1. The underlying problem was still there — the management did not value your work to have a thoughtful policy that worked for both you and your employer. Rather than working with you, they chose an adversarial approach.
2. If you had gone back, they now know you can leave, so they will be looking to replace you as soon as they can, possibly even have you train their replacement.
3. Some independent contracting work for continuity may be appropriate if you care about the team and they had treated you well.
4. It is easier to get hired while you still have a job than while you do not.