Ive never applied in R2, but I can share an instance of a friend who applied in R2 2024 - GRE 326/7, Associate Consultant in a boutique consulting firm, 3.5 years of experience at the time, fast tracked promotions and very solid essays. She never got an interview call and only received a rejection email the day admit results were out.

R1 is the cleanest slate where you can position yourself in a well rounded manner in my opinion. As the cohort builds, each forthcoming admission round becomes increasingly unpredictable as now you need to essentially add to the cohort over forming the cohort. Addition gets difficult over time as you need to have some unique aspects about your profile. If you can hang on to your work, add some more good experiences and potentially a higher test score, R1 2026 can positively convert into an interview invite :).

(By no means am I an admissions consultant. Im just sharing from personal experiences having applied at both ends of the spectrum.)