I don't think it's a consequence so much as it's symptomatic of that line of thinking. Marvel had been rapidly sinking because of endless crossovers and a policy of flash over substance. Heroes Reborn is just a capstone to that line of thinking, that the way to patch the ship is to sink all their major franchises into this sort of cheap ploy.
I don't think you can remove the whole 90's implosion from the equation, simply because it is the worst thing to happen to comics in the recentish past. If anything, serving as the low watermark of the nineties implosion makes it all the more meaningful a disaster.
I agree with you (almost) completely, I'm just saying that all of that crapiness that happened in the 90s including the train of thought you referenced was due to the Perelman disaster. He caused all of it, directly and indirectly. You can't really say Heroes Reborn or even the thinking behind it was the worst thing to happen without examining what caused it - policies put in place by Perelman.
I misspoke in that last post you quoted - I said the Marvel bankruptcy and I didn't mean the bankruptcy, I meant the event that ultimately caused the bankruptcy, which was Perelman's ownership and destruction.