Aviation can be a lot like the stock market, in that it’s nearly impossible to time it perfectly. All you can really do is best prepare yourself to move on when opportunities present themselves. Just like you should diversify your portfolio for investing, you should constantly strive to diversify your resume as well. Beyond your situation, even if a pilot can’t get on at a Cape Air or Planesense type place, branching out and getting more fodder for the resume (glider instructing, glider towing, masters degree, picking up extra duties at the flight school, etc...) will help you stand out over the CFI that just kept instructing during the downturn waiting for a call.
Imo you have made a good move going to Cape Air. Multi time in a scheduled carrier is going to give you a far better resume than continuing to slug it out in the pattern and practice area as a CFI. I think we’ll start to see improvements in the aviation industry in the next year but I think hiring will be competitive for at least the next 2-3 years.