Probably too little too late
It took us 40 years to build up the Philippines.
All that infrastructure is gone and we cannot afford to rebuild
The bases, as they were, would be useless today. They are too close to China to serve as logistics/shipyard/rear area support, as they were then. They would just be massive targets for Chinese missiles and fighter bombers.
The current bases treaty gives the US carte blanche to deploy its forces anywhere in the country, essentially using the whole for fighting positions for mobile radar and missiles, tactical airstrips and the like. The key is dispersal and mobility. The Philippines is, these days, front line, not a rear area.
To add to the complication
- Clark AFB turned into the Clark airport complex, which is huge, and very busy. It is the Philippines airfreight hub, a massive business.
- Subic shipyard was expanded into https://en.wikipedia.org/wiki/Agila_Subic_Shipyard
A global scale shipyard, it was offline after Covid and the financial troubles of its Korean owner, Hanjin.
Subic facilities are open and have been used by US forces under the current basing agreement.