It also still leaves things wide open for Paizo and Pathfinder. Instead of 4E being called "The MMO version of D&D" or "A wargame pretending to be D&D" or the like, you'd likely have got "D&D got dumbed down so they could make it into an MMO!" (things like Warlocks would be held up as evidence of this) or "Baby's First D&D" or the like, because realistically, going from 3.5E's extreme range of options, and fiddly, complex mechanics involving dozens of types of bonuses and them stacking or not, hundreds of feats, and so on, to "Advantage/Disadvantage" and like a dozen feats, with an audience already primed to hate the game by the three things I listed above, it would not look good.
Would it have done better than actual 4E? I don't really think so. Maybe a little but not a lot. Pathfinder would still have succeeded in capturing a large audience share. I think rather, the insults about it would be a little different, the distaste would be that it was a "simplified game for video game people", rather than "a wargame masquerading as an RPG".