At this point rescinding the rule my be more harmful. We'd move from an airline pilot shortage to a cfi shortage.

But even before the 1500 hour rule, weren't we already on a path to a shortage with less people entering the profession due to pay and QOL issues?

The 1500 hour rule really had nothing to do with the events of 2001 through 2010 which would probably be some of the main causal factors. No doubt though the 1500 rule exacerbated the problem though.