Wada genuinely believed in Japan's projects and in Eidos/western properties. This is evidenced by the fact that the Versus project and Final Fantasy XIV: A Realm Reborn are actual things still and not down the drain. If you're looking forward to these games, then you probably have to thank him on some level. It also goes for Eidos as well, as the merger was able to infuse Eidos properties with the capital they needed to compete at the AAA level.
It's questionable whether titles like Hitman or Tomb Raider (for example) would have had another AAA shot without Square Enix backing them. That, and properties like Deus Ex and Thief have now had/will have a AAA shot, where they haven't before. In the end, I agree that they put waaaay too much stock in Eidos properties, and that led to the crazy expectations for sales -- which led to the terrible FY report.
However, most of the losses seem to be attributed to the massive restructuring effort, which can be directly laid at Wada's feet.
