I'm sorry I hated this episode. OK so his Parents are alive and well. Wally is in critical but stable condition. Iris loves him. Cisco is rich. Caitlin hasn't lost Ronnie or Jay and seems happy. The reverse Flash is locked up and not causing trouble. Somehow and I can't explain this he still has his powers and the worst thing that is happening is he is forgetting the prior timeline. It's called a journal Barry right the stuff down or have old Eobard tell you what you forgot. But instead they kill his mom and we got an M. night Shyamalan moment going to happen all season. This episode seems as useless as the lost dinosaur episode. Yall remember when he see's his mom in the speed force and realizes that she is ok and all is well but I'm going to change it anyway.
Wally wasn't stable - he wasn't healing like a speedster should. That indicated that at best, he wouldn't recover fully.
Joe, his father for the last 15 years, was a deeply unhappy mess of an alcoholic who had no close connection to his family at all, or anyone. I was actually really gutted at seeing Joe like this, and seeing Barry only feel a little bit bad - to me, this was the worst characterization of the episode, but even this is forgivable - his parents alive but Joe unhappy? Joe himself would want that for Barry. The Barry we have got to know would feel awful about that (which does come into it in a general way of course when he admits that he's buggered it up)
He almost lost to the Rival due to these changes that were happening (in fact, he did lose to the Rival, if not for Joe)
Eobard indicates that Barry will forget that he was the Flash at all, and they indicated that he lost all of his memories of being able to do certain things. Hence he was helpless in the twin tornados - which was a nice call back to the first threat in episode one, where he had to learn to deplete a tornado's energy.
Iris doesn't truly love him in this timeline, she barely knows him - she definitely knows that he is special to her in the universal scheme of things, which she said felt like love. She just knows that something was missing from her existence - this indicates that the shows timeline is semi set - like Reverse Flash said (and has been mentioned on Legends) time is like liquid concrete once you mess with it. It starts to set.
I think Barry was naive to go in the first place (but this was great storytelling, he isnt perfect and his Dad's loss was too much - heartbreaking) but then he spent three months with his parents. Any one of us would do the same. That allowed him closure, and he decides to reset the timeline - but that requires him literally asking for his own mothers murder. Its bloody fantastic full circle stuff and great drama. How horrendous is that!?! He is also naive to think things will be perfect when he resets it (Reverse Flash actually says to him that he isn't as stupid in the future - character development!)
I'm glad there are repercussions though. Excited to find out what they are.