Does it make sense to re-apply

Hello everyone,
A couple of months ago my application to INSEAD was rejected after being on waitlist. I am still considering if I should take another attempt and I would appreciate your thoughts on this.
A bit more details about me:

Demo: 34 y.o. (which puts me almost above threshold for full-time MBA)
Nationality: Russian
Occupation/Career: 12 years in Marketing. For most time I did not focus too much on my career, so did not achieve great results (just middle level management), though performed very well (cases of which I presented in essays). Worked only in multi-national companies and had quite diverse international experience (though did not work abroad).
GMAT: 720 (Q49, V40, IR7)

So about a year ago I decided to give a boost to my career and considered getting an MBA would be a good move. I focused only on INSEAD, given its 1 yer program, high ranking and flexibility about older applicants. Its internationality and quite easy-going atmosphere were other great advantages for me. I visited Singapore campus in-house event (and also a lecture) and was reassured that I wanted to go there.
I applied for January’17 intake, 3rd round. I passed to interview stage, then was put on waitlist and finally rejected.
My first reaction was to forget about MBA, given my age and the fact that I do not see other MBA programs fitting my criteria (and INSEAD does not encourage re-application).
However, the thoughts on MBA still chase me (opportunity to get very diverse international exposure, to get into circle of ambitious people and to get ideas and inspiration for my future self).

So do you think that it is still worth re-applying to INSEAD in this situation?