He wouldn't even be able to regain his pro card. 
True, but look at it this way: the Nationals champion of every year could probably qualify for the Olympia in the form he is in. Just because he is only winning an amateur contest doesn't mean he wouldn't fare very well at pro shows in the same form (top three at smaller events). So, your comment could be translated to say that King is not top 3-5 material at some of the smaller shows, which doesn't necessarily make him a horrible bodybuilder.