Hamas wants to pick the time and place for conflict with Israel.
This is a matter of patience rather deterrence.
Under quiet for quiet (Q4Q) Hamas has a free hand to devote a major portion of its resources to prepare for the conflict. They continue to fabricate and smuggle in rockets, armed drones and much more in ever increasing quantities and ever improved versions. Their army has implemented an ongoing training program including large scale exercises.
It would be a terrible mistake to interpret the decision by Hamas not to participate so far in the current round of fighting as an indication that they are somehow shifting from “guns” to “butter”.