I agree, may aswell reinstate him.
I had a friend in College that was caught selling something he shouldn't have been, and because of a mandatory minimum in place at the time, and the amount of time it took the chemical to come back from the state lab, he spent the better part of three years believing he was going to jail, first time offender of anything, for five years. Least to say, as a good kid who made a mistake, he was scared straight thinking about his ruined life for an extended amount of time.
Luck has it, in those three years they changed the mandatory minimum and he did not go to jail when court finally came around and he pled guilty. He went from a flunky student to the dean's list, gave up drinking and smoking and is now a pharmacist of all things in Memphis, and has been for 17 years now. I talked to him about 2 years ago, and he told me that he thought about jail and wrecking his life everyday from the first second he awoke in the morning until he went to bed. He was that scared.
To Blount, maybe just believing that he blew his life for the months he thought he would never play college ball again was enough of a wake-up call without actually having to follow through with the punishment.
With all that said, I believe they did the right thing in the reinstatement, but I would put him on a very short leash in the NFL and this should be conveyed from the git go.