Wallace's decision was brilliant legal maneuvering. Having found Trump factually guilty of insurrection, higher courts cannot re-adjudicate or dismiss that fact. It is now written in stone.
Given that this case was going to be appealed, no matter what, her decision basically dropped an anvil on Trump's head. Now SCOTUS cannot disregard the fact that Trump engaged in insurrection. They're stuck with that, that's how our law works. Bet Trump's defense is pissed off.
Only way out now is some serious legal acrobatics to say that 14th does not apply to POTUS. LOL, he's fucked.
And remember, this court is conservative, not partisan. These judges owe neither the GOP nor Trump a damned thing. I'd bet you a crisp $20 bill that, like the GOP leadership, every one of them loathes the man. And unlike the GOP leadership, they no longer have to worry about votes.
They've already declined to hear one Trump case (maybe two?), thereby kicking his loss back to the lower court. Where, ya know, he already lost. They also told Alabama to go fuck themselves on their redistricting shenanigans.
tl;dr: Wallace ruled this way on purpose to fuck Trump.