People make too big of deal of being labeled "non-rehirable" at Target. There aren't the only retailer in the world.
IMHO I wouldn't never go back to the same company after leaving even on good terms.
First, you never want to burn a bridge if you don't have to. You never know about the future. Target is not the only retailer in the world but they are paying higher wages than other retailers for entry level/seasonal work. $15 per hour is higher than many other retailers including Walmart, Home Depot, Lowes, and probably every retailer located in your local mall. Also, if you are looking for retail work in the future, you may want to go back to where you are familiar with and know what to expect.
Second, I agree I would never go back to the same company if they fired me or laid me off. In fact, I would never step foot in their building again or spend one penny with that company again. If they do not think I am good enough to work there, then my money is definitely not good enough to help support your business.
The exceptions to that are if I chose to leave for another job, if I didn't want to stay after working as a seasonal, or if they had to lay me off due to something out of their control (pandemic forced a business to close or drastically reduce hours/staffing).
If I chose to leave, then I would apply to come back if I needed to. If I applied to work as a seasonal because I needed some extra money one Christmas, then I would apply to do that again. If they had to lay me off due to staffing or seniority or a legitimate reason that was unbiased, then I would apply to come back.
Being a prior team member that left on good teams is an advantage when applying in the future. If you apply elsewhere, your application is one of many that may get looked at, may get chosen for an interview, and may be chosen to be hired. It is easier to be rehired if you can say you worked there, did well, and point to current employees that worked with you and can provide a reference.