Yeah, this theory seems right on point with what Itachi said before Kabuto chided him about wordplay. Itachi chose Kabuto's fate, but it's up to Kabuto to decide it. At the point where Itachi and Kabuto made eye contact, right before the horn comes off, Itachi activated Izanami and let it run for a minute, like Izanagi can run for a minute, and, at the end of that minute, he closed the loop therefore sealing his eye in light, as it's now lost the dark. Kabuto, Itachi, and Sasuke will keep rebooting at that activation start point and run through that minute over and over again until Kabuto matches up his actions with the destiny Itachi set, releasing the edo tensei.
Of course, at that point, all of the edos will be reduced to dust, because he's not just unsummoning them, he'd be releasing the jutsu entirely. Among them will be Itachi, leaving Sasuke to finally do what he's been aching to do from the start, let loose and kill Kabuto. I also suspect that Itachi, in talk no jutsuing Kabuto is also simultaneously talk no jutsuing Sasuke on purpose. So, by the time the Izanami's over, Sasuke and Itachi oddly have the talk they were supposed to have.
