I don't hate the idea of this and it's true that Wally never truly adjusted to living in the new 52 universe. I can see his math but he ended up going WAY too extreme with that presence and sent Wally WAY too far over the edge.
I guess the only thing to do at this point is wait for the final issue and see if King puts his money where his mouth is in terms of finding a convincing way to have Wally come back from this. Seems like a pretty tall order.