I think much of this is gossip and has been blown well out of proportion - I wouldn't even begin to post some of things I've read and heard about this entire fiasco but I doubt much of the truth of the matter has come to light.
In any case - there's nothing wrong with poking a little fun at it all:
And I'm pretty sure his career is far from done. The squeaky clean guy always ends up a bit dirty and everyone loves a comeback story. Not to mention the fact that his fan base consists mostly of rabid 14 year olds.