It soon became apparent that this release was just a procedural move:
#Jets FB and special teamer Nick Bawden, who was waived this week to make room for QB Aaron Rodgers on the 53-man roster, is signing back to the NYJ practice squad. He’ll almost certainly be elevated for the games.— Ian Rapoport (@RapSheet) December 21, 2023
Bawden is dealing with a knee issue but once healthy can continue to be elevated from the practice squad for the rest of the season and has his full salary guaranteed as a vested veteran anyway.
The only issue will be if the Jets have further injuries that require them to elevate players from the practice squad. That might force them to cut or IR someone to create room.