Earlier quoted context omitted.
> but what's the point then? Learning. The result may not be meaningfully better, but you gain fuller understanding of the problem domain. The third rewrite might have a chance of being an improvement ;).
You may just learned that there's no more meaningful improvement to be made. That should probably be documented somewhere after that discovery is made. Somewhat relatedly, I've refactored processes down from 25 hours to 20 minutes. It got to 20 minutes, and other people started nitpicking that it could 'be faster' (the same people who'd let it get to 25 hours, then threw up their hands and said "it can't be fixed").…
20 to 17 minutes is a 15% time savings still.