Talk about rewriting history.
It's clear at this point that the sainted Joe Pa and co. covered up Sandusky's despicable crimes, and they should be held accountable for them. But you're correct: vacating all those PSU wins *is* rewriting history, and IMO, has a whiff of Stalinism about it.
Regardless of how much we despise the actions/inactions of certain people, the past is the past. No matter how much he tried, Stalin was unable to erase the names of Trotsky, Bukharin, Yezhov, et al. from history, and all of us that are riding our indignant high horses are not going to be able to erase Joe Paterno's name and the successes of his teams either.