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Sorry, but you are wrong. I think you are confusing revocation with extension.
Revocation is exactly that- and extension is as the name suggests, an extension. Their is zero suggestion that the EU would grant an extension for a re-negotiation of the WA, but every suggestion that they would for a referendum- as long as it had sensible choices such as Mays WA or remain. They won’t grant an extension for WA vs no-deal, for example.
If Corbyn got into government by the end of Feb the EU might grant an extension to ratify the terms of the WA, but there is no suggestion that they would re-negotiate it at this late stage. Everything else aside there’s simply no time as the extension would be bounded by the European elections in May.
Finally, why grant an extension when Labours rhetoric has been to achieve the impossible? What would the point be? And, finally finally, the WA is not the future agreement. It doesn’t bind us to a future without the SM, or Norway+, or anything else- it simply stops us ruining Ireland if we continue to demand the impossible.
Dammit-
We're saying pretty much the same thing, the difference is down to the politics and the hard stance that the EU is currently taking against May's Government and her WA.
(I think some of the confusion is that by 're-negotiate' I'm including the option of a completely new deal proposed, possibly from a completely new Government.)
The extension is a red herring as, I agree, nothing can be done in the scant time available and May doesn't have the wiggle room to get a deal through given the red lines she won't go back on (back down too much and too many Tories will rebel and vote it down, don't back down enough and Labour will vote it down). And the EU don't want to renegotiate her deal.
The question (I'm posing) is whether the UK can revoke A50 and then resubmit later.
Logically they must be able to, for if the UK ends up revoking A50 the inability to ever submit A50 again would mean the UK would be permanently stuck in the EU.
From there it becomes a question of what conditions (and timescales) are involved that would allow the UK to resubmit A50. I would suggest that a considerable change in the UK Government backed up by another referendum would be enough, and that would be the option that a future Government would/could take. (Ideally, as a remainer, I'd hope that a second referendum would be phrased in such a way that the whole notion of Brexit is canned once and for all, or for another 10 years or so.)
Put it another way, if the UK revoked A50 and then said to the EU "We'll have most of what we have now, you can take away our special deal concessions and we'll continue to pay in to the EU like we do now" then the EU would snap at the chance. At that point it reminds me of this apocryphal exchange: https://quoteinvestigator.com/2012/03/07/haggling/
Greenbank
You keep saying this but it's not true. The EU have said time and again they will not renegotiate May's deal.
https://edition.cnn.com/2019/01/03/uk/brexit-negotiations-rejected-intl/index.html
It's too late for May and the current Government to do anything else. So if May keeps pushing her deal then, yes, that is the only deal on offer.
May cannot revoke A50 in order to buy more time to negotiate the finer points of her deal, that is definitely not acting in good faith (or whatever the term is). The EU would just continue to say "we've told you we're not budging on that deal" and the can would be kicked a lot further down the road.
Any revocation to buy more time would require the UK to considerably change the base terms of a deal, at that point the EU would probably start to talk again, especially if this is backed up by another round of 'will of the people' (i.e. a second referendum). This would also almost certainly require a change of leadership (either in the Tory party itself or Labour getting into power) as Theresa May's reputation would be shot (if it isn't already).