I gave my undergraduate class the opportunity to rewrite their papers, but I was surprised when most of them merely corrected a few (but no all) of the things I had called their attention to. Whole sentences made it unchanged into the new version, even sentences that I had marked with a question mark. One student did not even get a better grade on the rewrite.
I guess I have to be explicit: when you rewrite a paper, you should make changes to every paragraph if not every sentence.
The same principle applies to a revise and resubmit. You should go beyond what the referee told you to do and use the opportunity to make the article better in other respects too.