Or to be more accurate, it's Peter Parker who is dead, at least in the metaphorical sense, because he no longer has a relatively normal life apart from being Spider-Man, thus eliminating the drama involved with his life as Peter Parker and how he tried to balance that with his other life as Spider-Man--which was partly why readers for decades read Spider-Man comics in the first place. Now, he's essentially Spider-Man 24/7. Or rather, considering how much of Iron Man's lapdog he's become, Spider-Tool.
"But wait!" says Joe Q, "You have at least a YEAR AND A HALF worth of Spider-Man stories with the unmasking." Maybe so, but that just tells me that the "unmasking" was never meant to be permanent and was just a sales stunt. But unfortunately, the WAY Peter's identity as Spider-Man was revealed, whatever "solution" Marvel comes up with is going to be so convoluted that, in the end, even those who liked the unmasking are going to cry foul. So not only is Joe Q "sucessful" in alienating the long time fans, but he'll be "successful" in alienating the die-hard fans as well, including the ever sought after "new and causal readers" who will only end up being woefully confused without having Civil War explained to them all over again. Should've paid more attention to the Clone Saga Marvel.