What? No - Just no.
He did live by it. His derailment is one of drama, dictated my the necessity of the story, not ethics. We've already covered how in the novel she shows this and if that is not good enough you can go on her word on the subject.
He was also not left to the wolves - Even Rand said after the collapse Eddie would be one of the first to rebound since he was a good person who would be able to produce since he never accepted the altruist/collectivist ethics.
I'll have to find the quote - I think it's in her letters some place.
Either way - This nonsensical trashing of Eddie needs to stop. As explained - He is the symbol of a good person crushed by the collectivist system.
I mean really - If you need another example just look to James Taggart's wife for good people getting hurt by the collectivist/altruist ethics. Was her suicide Rand's way of showing her lesser stature too?
There is a difference between tragedy and ethics, in philosophic terms as well as literary role.