Goku's decision to remain in Other World after sacrificing himself to save Earth during the Call Saga remains one of the most iconic and controversial moments in Dragon Ball Z. The idea that Goku was partly to blame for the string of attacks on Earth by various villains was an overarching narrative trend for a long time in DBZ. From the Saiyans and Mecha-Frieza to Dr. Gero and the Androids, everybody and their mother was trying to throw hands with the mighty Saiyan at one point or another. Goku eventually wised up and decided to take himself off the board to keep Earth safe -- but was that the right call?
It's pretty much indisputable that Goku has a habit of causing major trouble just as often as he saves the day. This problem has been exacerbated to an excruciating degree in Dragon Ball Super, supporting the idea that either by his actions or simply by being, Goku is the cause of constant danger to everything and everyone around him. So, when Goku informed his friends that it'd be better for Earth if he didn’t come back this time, no one could argue with him.
By the end of the Cell Saga, Gohan was far beyond his father in strength; an unusual position for the series' favorite Saiyan to find himself in, no longer the undisputed mightiest Z Warrior. Even though Gohan was crushed to hear his father declare his intent to stay in Other World, it's only because of Gohan's newfound strength that Goku could be comfortable leaving the Earth's safety in his hands. Goku, ever the warrior, submits that Gohan is so strong that he has nothing left to teach him, meaning (to a Saiyan) that his job as a father has been fulfilled. This isn't to say that Goku stopped loving his son, only that he knew his son would be all right without him.
There was probably a big part of Goku that was excited by the prospect of new adventures in Other World, so what others saw as a sacrifice on his part may have been the seizing of an opportunity. It's no secret that Goku can be a bit selfish at times, especially when it comes to how he interacts with his loved ones, so it's not entirely out of character that he would feel so little hesitation in leaving them behind. Goku is an adventurer at heart, and he counts on his family to understand that rather than begrudge him for it.
As for the practical consequences of Goku's decision, well, there weren't any. The seven years that he was gone were the most peaceful the Earth had ever been before or since during his life. It hardly seems like a coincidence that the exact day Goku returned to Earth, trouble was already brewing. Granted, Babidi and Majin Buu had no grudge against Goku, but seven years of peace shattered the same day that Goku comes back is almost comical. Of course, it's a good thing he was there, considering how weak Gohan had become. How was Goku supposed to know that his son would abandon training the moment his father was gone?
In the end, Goku made the right call. The Earth was perfectly safe while he was away, and he proved himself capable of protecting it from beyond the grave when the moment called for him to do so. The times of peace allowed Gohan to live the life he always wanted, and it helped Vegeta settle into a life on Earth that eventually changed him into a full-blown hero. And who knows? Without the extra time training in Other World, Goku may not have been strong enough to later defeat Majin Buu.