While the latest chapter was indeed VERY dissapointing (from the super pidgeon plan, to the reveal of who RJ was, to the "please don't kill me" and the 911 call).
I don't think this was the end of it and I think Red John is still out there.

Why... simply for 2 reasons

- McAllister is really out of character to be RJ.
We are supposed to believe he is a criminal mastermind, a truly clever mind. His followers didn't do as he said because of fear, they did so because they worshiped him. They made terrible things for him and would refuse to give up his identity no matter what.
It would simply be HORRIBLE writing and storytelling if McAllister ends up being RJ.

- This one has nothing to do with theories or plot.
It's just that... there is still over half a season to go. The mentalist seasons are generally around 20-25 episodes long.... I just don't think that after 5 years of focusing on Red John they would just show us the secret in episode 8.... hell, it's not even the MID-season finale.



Anyway... I think there is still more to it. And I'm still a supporter of the theory that Jane is indeed Red John.