To die at the end was the honor sacrifice for the guilt, in perfect japanese style, a suicide after a failure is seen like a honorable way to ask sorry.
Instead in western mentality a suicide for that reason is stupidity.
Try to imagine if after becomed emperor using the geass, Lelouch made only good things, realistically Schneizel couldn't do nothing, otherwise he become the bad guy and lelouch still the good one.
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