Itachi has no other option but to die really, if he surrenders then the leaf will execute him.
You cant get away with murdering a clan when you just want to say 'hey stop i'm good now leave me alone' its something thats going to be on Itachis back for the rest of his life and means hes eventually going to die.
If he does give up being a shinobi, Sasuke will probably murder him the first chance he gets.

I dont think that everyone bad will die, for good to exist there has to be evil. Its just that Itachi has made sure that he'll die one day by keeping Sasuke alive and telling him to train to kill him. Once Orochimaru taps into Sasukes potential (which we know is more then Itachi's) he'll get stronger quicker and we'll see them face off.

Also as we know, the only one that can defeat the mange sharigan by looking at it directly is a member of the same blood.
Now why would Itachi leave Sasuke alive if hes the only one who can defeat that technique and also make Sasuke want to kill him.

Itachi wants to die, when Sasuke reaches his potential though.