I agree that this is The End for Venom. For all intents and purposes, Venom's story arc extended to Peter's rejection of the symbiote, the symbiote re-uniting with Brock, equally wronged, and going out to kill Peter, whom they know to be Spidey, and cannot be sensed by him and has camoflague (sp?) and can lash out with tendrils. Basically the ultimate negative deus ex machina.
But he was overused and under-developed. Personally, I thought Venom should be smarter than Spider-Man since he has Brock's brain (OK, maybe not smart but at least cunning instinctually), alien symbiote knowledge (however far that extends to), and Peter's near-genius level of intelligence. I think Venom has a far better chance of being an interesting character in USM (even if he comes across as a punk kid), than he does (or maybe did) in regular comics. Venom is fun from the angle of being Peter's "dark side," but other characters have that flair as well. Marvel did not take the time and consideration to develop him in anything but a one-sided manner, and have essentially cheated us out of some very good possibilities.
If Venom IS reborn, I think the most credible way will be as a restart, and there are already way too many of those. So, best of luck in SM-3 and USM, Venom.
He is dang fun to draw, I must admit.