If it is true that Venom really dies and not set up the 4th movie, then I would be pissed.
Venom could be his most challenging enemy and I would hate to be robbed of seeing Peter trying to figure out how to beat him.
It seems in 3 he gets his butt kicked and needs someone else bail him out.
If the screen time is limited, they better make the fight scene worthwile.
And something from that picture (of Venom having Spider-Man by the neck) bothers me, if it happens in the Church after Peter rips off the costume, when does he find the time to put on the Red suit?