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I really doubt it. Brexit is still too toxic right now for any reversal and everyone wants to just move on. The Tories doing it would be completely suicidal.
I think its Sunak and the party leadership completely out of ideas and any remotely competent people willing to work with them. He had decent public support before, especially with big business which labour have completely brought to their side so this is probably to try to woo them back. I'm not sure it'll work. Business right now just want stability and know the Tories cannot give that until they decide who will lead once they lose the general election and how far right they will end up (I.e. if its too much, I think big businesses will struggle to support them because of their HO staff and need for cheap immigrant labour to do the actual work)