User blog comment:Kashyap69/a mistake/@comment-99.249.221.225-20150521040718

Eobard didn't create the flash, Wells does for the original version in this specific timeline, in which Eobard is also created and goes back in time, to change the timeline by murdering nora allen. So what we are seeing is the second timeline, that Eobard is trying to change, always referring back to the original timeline through Gideon (the 2024 newspaper about Infinite Crisis). So to answer your question, no, the Flash still exists, just not YET in the timeline that you are speaking about. He will still exist... eventually.