Honestly I like the “everything happened” idea because it doesn’t alienate readers. I started reading comics late 90’s early 2000’s. I didn’t read stories like Emerald Twilight, I only read Rebirth with the return of Hal and the Johns era. But people had love for what came before with Hal, and with characters like Guy, John, and Kyle. There are other examples but the idea that we don’t just inherently disregard something that somebody liked and read is a good thing to me. People liked those stories when those changes, retcons, and reboots occurred and I don’t see how it hurts to at least acknowledge those stories as valid when drawing a hard line in the sand only alienates readers who read those stories.
At least that’s how I see it.