I can't stand my wife, is this going to be a problem for my whole life ahead?
Oh no, this is sad to hear. Are you joking with me? Why can't you stand your wife?
She's neither hot nor smart. And she's a waste of my time  because she makes me feel like shit.
Staying with someone that makes you feel bad and wastes your time is a bad idea. You should divorce your wife if she is not the right person for you.
Leaving her before she leaves me would be horrible.
But she has treated you horribly, you don't deserve that. It would be horrible if that continued on your end. I do think you are fine with making the first move with this divorce.