Today, of all days, we all feel the impact of an uncontrolled and exponentially-spreading biological disaster. Gene drive can have a similar impact, if it goes awry.
To wield a weapon of extinction that we barely understand is folly. There are as many opportunities for loss of control through mutation as there are mosquitoes. While the biomechanics probably don't work out, it seems like a bad idea to attempt such an extinction when each of our tiny adversaries are equipped with hypodermic needles and a penchant for mammalian blood.
Your point regarding the consequence of not acting is very well-taken. It only takes a day or two in a country with tropical disease to understand how crippling it is, not just to individuals, but to entire continents of people. The happiness of billions of lives does hang in the balance. Before going with the "nuclear" (or should I write "CRISPR"?) option, one should explore every other avenue to its end.
I'm a physicist -- I see in CRISPR all the good and bad that physicists encountered at the dawn of the nuclear age. Be real, real careful with it.