Hello!
Do you remember the old times? When everyone with a licence would easily get a job (obviously, relatively easy)?
Yes, I do remember the old times. When I got my CPL/IR in 1990 there were no jobs for years to come. And when I got my ATPL in 2001 it was even worse (9-11 was two weeks before I did the MCC course). I had to change my plans many times during the last 20 years, did other work than flying and when flying, it was mostly on piston twins and instructing on singles. Flying as "safety pilot" with self flying businessmen and things like that. Not much money, but a lot of precious flying experience ( and fun and good times!). And cheaper than to keep current at my own expense.
Do you think I'm doing the right thing?
No. Never ever let your license lapse. Forget about the airlines (especially if over thirty and without flying hours, sorry to say that!). There are more jobs in general aviation anyway, and if they become awailable, then always at very short notice. Only a valid license and some recent flying experience will get you one of those.
I know this is easier said then done, but if your current job does not allow you to maintain your license, you need a different job.
Never stop networking. Call your buddies from the flying school regularly, keep talking to your old instructors. Follow every rumour!
Good luck.