>>39048143>Giovanni defeated by red, disbands Team Rocket for real, and goes off to who knows what and where, probably to train and battle>Giovanni defeated by Red, disbands Team Rocket for a time strategically, plans to reform it later but is stopped by Gold time-travellingNot quite. In Gen one, he basically says that he'll devote his time to studying Pokemon after being beaten. In Gen III, he instead says that he's going to train to become stronger. In both cases, he pretty much admits that he's doing it because he cannot face his followers and in Gen III, he feels he betrayed their trust.
Whilst he does want to reform Team Rocket in HGSS, it's less entirely formulated and more because he got beaten by a kid 3 times and he feels he's not strong enough. It was just his followers calling out to him that gave him the confidence boost to return early (said confidence boost was then crippled by Gold/Ethan or Lyra).
As for which is better, I honestly feel both have merits. Giovanni is one of the few bosses in Pokemon who's a straight-up bad guy and he rarely has an excuse for his actions and he's sometimes portrayed as being ambitious. At the same time, Gio becoming a good guy after his defeat (or just focusing on becoming stronger to sate his ego) would be an interesting avenue to go down.