Pete sums up both this arc and the entirety of FW’s run in panel three. Stop. It was all a big mistake.
Obviously Pete is distraught upon discovering that his main influence and life-long idol came up with the bulk of his ideas while hitting up the early bird over at the Sizzler. Or maybe he’s just stunned to learn of foods other than pizza. Or maybe he’s just upset because Flash’s frank admission confirms what he’s secretly known about himself all along, which is that writing comic books isn’t that hard and his entire life up to this point has been a total fraud. It’s difficult to tell and the weird faces everyone’s always making do not help.