10/10 can relate. The rewrite spirals can get so bad for me that I just give up on whatever I'm working on--but I'm not sure how healthy that really is XD. I also find that when I do go to rewrite it, things aren't as bad as I thought they were. It really depends on you, and what kind of writer you are, I think.
Generally:
If you are rewriting because you are always seeking a form of 'perfection,' it's probably best to take a moment to realize that it's just not going to happen and do your best to will yourself to move forward. It's hard, and it can feel really icky, but sometimes, word vomit is the best way to figure out why you are stuck in the first place. No matter what, blank pages are always more difficult than ones filled with ideas--even bad ones.
If you are writing and come to the realization that some plot point or concept or arc or something isn't working and you really need to go back and edit that stuff before you can write while still making sense to the readers (and not confusing yourself in the process XD), then yeah, I think its totally worth the rewrites. It doesn't really replace the ideas you'd have if you just kept writing, but I often find a great deal of inspiration in picking up unrealized potential in certain areas or finding plot points I've just forgotten cause I was too busy chasing rabbits down holes because shinies and ADD.
For NaNo, though, I'd really go in with the mindset that word vomit is the way forward. I like to re-read and stuff once I find direction, but I don't consider that editing as much as I consider it 'jotting ideas down first and fleshing them out when inspiration strikes.' That'll be different for everyone, though XD.