Good tip, though you say it will: “save you a lot of time”, that’s debatable if all you’re saving is one piece like this example. Recutting a single part like that is probably a lot faster than getting out the sander.
As for the cost benefit: Looking at that part I am going to be optimistic and say it’s 12 square inches of material. Lets say it’s plywood, it’s almost not worth calculating the price for 1/8" baltic birch, but at the prices I get, it’s equivalent to about 5 cents (all amounts US) worth of wood. Let’s be pessimistic and say you spend triple that, it’s still only 15 cents.
So that’s ply lets do non PG hardwood maple, comes out to about 7$ per square foot from most sources: about $0.58 in hardwood maple.
Lets step it up more: maple PG ply, $16 for a full sheet. That’s $0.06 per square inch, or about $0.80 in materials.
So for a single cut part? Maybe recutting is the right move. Now, if you’ve just spent an hour cutting a full sheet or engraving… get out that sander, and you’ll see some economy of scale 