Reading the first half of the story was quite unbearable because the prince was a complete sc*m through and through. It would make you think "did the prince really deserve a second chance?". But after reading another half of the story, I'm convinced that the prince really deserved it. The first reason was, he really tried hard to redeem himself for 2 lifetimes. Another reason was, I think the prince became that scummy wasn't entirely his fault but also the fault of the environment he grew up in.
Spoiler
His father indulged himself in debauchery and he was also an incompetent king while his mother loved to live lavishly. It was no wonder that the prince grew up to be that bad.
In conclusion, I think this is a really good second chance story.