Passed Meta PE Loop. Can You Still Get Placed After a Freeze?

Feeling pretty gutted right now and trying to figure out how to actually navigate this. I recently cleared the entire interview loop for a New Grad Production Engineer role (US). I successfully made it through team matching, had a great call with an HM, and officially confirmed the match. I was waiting for the packet review. Then I got the email: due to "shifting business needs," the headcount was pulled, hiring for the role is paused, and my portal updated to "Not moving forward." The only silver lining is my recruiter explicitly told me my interview feedback is valid for 12 months, I do not need to re-interview, and we can "pick up where we left off" if the freeze lifts or a new req opens. I know I need to keep applying elsewhere, but I’m trying to figure out how much hope to hold out for this. * Is the “12-month valid feedback” actually honored in practice? * Has anyone been frozen like this and later placed on a new team? How long did it take? * If you eventually got matched, did you wait for your recruiter to reach out, or did you actively send them new job postings? * Has anyone leveraged a passed PE loop to pivot into a SWE role, or asked for a partial loop?