TL;DR: No, there are plenty of good reasons why the death penalty should exist. The problem isn't the penalty, it's the people pointing it at innocents because it's harder to prove guilt beyond a shadow of doubt. THAT is what needs reform, not the penalty. Otherwise you're successfully putting more people into slavery when they just shouldn't be consuming resources anymore, period.
This person isn't wrongfully convicted, he's been fighting his death penalty for years. He quite literally confessed, and his confession drove the man responsible for the hiring (it was through a third party) to kill himself.
Yes yes yes, "but what ifs" are very nice for people that don't actually want to make hard decisions. The bottom line is bad people exist and should be killed. This man doesn't deserve rights beyond those afforded to people who are sentenced to death.
The expense of the death penalty is related to the trials that are held, almost always in opposition of the ruling. If you were to compare the actual cost of the penalty itself to the cost of keeping someone in slavery, you would find that the numbers don't support you.
The reality is you don't have a problem with the death penalty, you have a problem with the people proposing the death penalty because not enough preparation goes into it. Which is perfectly rational, because if they are not proven beyond a shadow of doubt to be guilty then the death penalty should simply not be on the table.
The problem isn't the sentence, the problem is people not treating human lives with enough respect when giving the sentence. Both things can be true. Literally point to any fascist/ authoritarian and suddenly the death penality doesn't seem so bad. No one cried for Bin Laden being obliterated, no one would cry for a convicted hitman being killed.