It has been claimed on this site that the fundamental question of rationality is "What do you believe, and why do you believe it?".
A good question it is, but I claim there is another of equal importance. I ask you, Less Wrong...
What are you doing?
And why are you doing it?
This is an argument for why the argument doesn't work for theism, it doesn't mean the argument itself is flawed. If you would be willing to multiply the utility of each belief times the probability of each belief and proceed in choosing your belief in this way, then that is an acceptance of the general form of the argument.
If you assume that changing your belief is an available action (which is also questionable), then the idealized form is just expected utility maximization. The criticism is that Pascal incorrectly calculated the expected utility.