The 33-year-old decided to join Mark Warburton's Glasgow Rangers side.
The midfielder played a crucial role in helping the Clarets return to the top flight, but chose to move to Ibrox at the end of his contract despite arguably hinting in the Championship that he still had the ability to contribute at the highest level.
But Wallace has explained why, in his mind, the 33-year-old's decision to join the Light Blues rather than stay amongst the leagues he already knows well was actually the braver choice.
"The main one for me is that I look at his football quality, where he has been, where he has played and who he has played with. He was Championship Player of the Year in a team that were promoted to the Premier League," he told the Evening Times.
"It shows his ambition as well. It would have been natural to think that the best offer or best move for him would be to go and play in the Premier League.
"He has been there and done that and he feels he wants to come and be part of something new, something fresh, something exciting for his next career move."
With the Gers' performances last season suggesting that it would have been tougher for Burnley to stay in the top flight than it would for Mark Warburton's men to compete for trophies this term, the potential that Rangers have got would arguably make them the more exciting option.
If their new signings are able to take the team to the next level, they have the potential to return to the title picture almost immediately.
And if they manage that, they would put themselves in the preliminary rounds of the Champions League, which would surely prove that Barton made the right choice when he decided to join Rangers.