First time poster and former 10+ year BB&Ter. I agree that the real question is, "Why are the estimated profits so low and the results of the merger overall so bad?"
Back in the 90's, the BB&T "acquisition model" worked extremely well, which was to acquire small thrifts and banks, and to indoctrinate them to the "BB&T way." BB&T was an efficient, well-run company and once the acquired organizations were brought up to speed, EPS grew rapidly. However, as the bank got larger, the acquisitions had to increase at the same pace to maintain the EPS growth trend.
The problem as I see it is that the footprint of the bank grew beyond the ability of senior management to maintain control. JA and KK were spread too thin. They tried to place proven BB&T leaders in distant locations to put the "BB&T way" in place. Too many fires in too many places, and moral tanked everywhere. ProActiv helped deflate core market morale. Combined, this prevented the efficiencies from materializing in the new markets, and EPS hit the wall.
IMHO, the solution is to sell the bank. The model doesn't work any longer, although the franchise is quite valuable. However, I doubt JA can give it up.