This absolutely. Also speaking to my personal experience as a writer rather than an editor, maybe consider just in general “do I want my work published here”. If you’ve only had one rejection (rather than many over a period of years) I don’t think it’s the stage yet to give the story to anyone who accepts it regardless of your interest in them specifically. Waiting for the right place for a project can be hard but potentially very worth it. The payment would also be a factor for me personally but may not matter as strongly to you. As an SFF editor, I don’t think hierarchies are helpful and I wouldn’t be excited to work with someone who isn’t excited to work with me. Since you’re leaning towards no, it makes sense to go with that feeling. They might accept someone else instead who would be fully thrilled to have their work included there.