Really, a cold, hard, reboot shouldn't be that big of a deal. Yes it'd undo a lot of good stuff but it wouldn't make that stuff vanish from your collections or from stores. It'd still be there. Same reason why the Abraham's Trek movie "reboot" doesn't bother me. I still have everything to watch and enjoy.
Cold, hard, starting over should have been what they did. Make the #1s all true "#1s." (Though they should have given Action the honor of reaching 1000 before doing it.)
Dine right (which, granted, DC isn't great at) it could've been very effective and avoided this mess with trying to compress so much BS into five years. I mean in five years Bruce really burns through 3 or 4 Robins? One of which being his own grade-school aged kid?! Hell, it's hard to even see how "The Killing Joke" and Babs' paralysis works in all of this. It's a lot.
Would a hard reboot have been that bad of a way to go?
Maybe not bad, but is the current situation REALLY a problem? Doesn't seem to be effecting sales of Batman. Nor the stories. Its nerds just trying to reconcile old fictional facts with new fictional facts. But truly, the old "facts" are gone.
In actuality, it's only a "problem" for a few, and they are going to buy the books anyway.