Warning: Contains spoilers for Devil's Reign: Superior Four #3
Still, Devil's Reign: Superior Four #3 it was revealed that Doctor Octopus' decision to make a bargain with Mephisto to "erase" his time as the Superior Spider-Man was actually the result of manipulation by an alternate version of himself, the Superior Octopus.
Peter Parker's apparent death in the Dying Wish story from Dan Slott, Humberto Ramos, Richard Elson, and Victor Olazaba was one of the biggest twists for Spider-Man since Civil War and he wants to recover those memories and get back his "superior" body, or at least that's what readers thought.
In Devil's Reign: Superior Four #3 - by Zac Thompson, Davide Tinto, Matt Milla, and Ariana Maher - Doctor Octopus has brought together a team of "superior" versions of himself from other universes, who have "colonized" the bodies of other Marvel heroes: Hulk, Ghost Rider, and Wolverine. Their plan involves killing their other variants across realities, but they are stopped by Supreme Octopus (Otto Werner von Strange), a Doctor Strange/Doom/Octopus variant who protects the balance in the Multiverse by keeping an eye on the various Ocks. This Sorcerer Supreme is so powerful that he completely humiliated Earth-616 Octopus and imprisoned him. When the original Otto makes a comeback, Supreme tries to bargain and reveals a truth that throws the whole Superior Spider-Man storyline upside down once again.
Supreme Octopus used his magic to influence Otto's mind, teaching him how to summon Mephisto and luring him into erasing what he calls his "greatest accomplishment," his time as Superior Spider-Man. Supreme also offers to give all that back to Otto, who however has moved past what he calls "ashes of the past." This revelation doesn't make much sense, as in Superior Spider-Man vol.2 #11 Otto clearly states that he acquired the ritual to summon Mephisto while spending time with Doctor Strange. Also, Supreme does not even explain why he wanted Otto to forego his Superior persona. The deal with Mephisto essentially turned Otto back into a villain and Supreme, who by his own ission watches over the "bad" Ocks in the Multiverse, had no reason for doing that.
The Superior Spider-Man storyline, although controversial, is an important part of Spider-Man's recent history. Marvel should just accept its legacy instead of trying to "fix" it constantly, which has the only result of making the Superior Spider-Man story make less sense every time.