You're position doesn't make much sense to me. If LSU is going to get popped because of what Wade did, then it's counterituitive to say "they didn't have a good play." Reinstating Wade makes the situation exponentially worse.
Let's assume the worst case scenarios:
LSU never reinstates Wade = Smart is declared ineligible, they vacate the games he played in, Wade is given a show-cause (which doesn't affect LSU anymore, since they'll have already hired a new coach), LSU gets hit with some recruiting restrictions and possibly lose 2-4 schollies, along with brief probation
LSU reinstates Wade = Smart is declared ineligible, they vacate the games he played in, Wade is given a show-cause (which does affect LSU, as they now have to hire a new coach while under the weight of massive sanctions), LSU gets hit with LOIC, resulting in massive recruiting restrictions and undoubtedly lose 5+ scholarships, long probation, multi-year postseason ban