You're screwed! Don't even both showing up

That is a horrible start wave for you, but makes sense why it happened. Assuming you run again next year and use this year's PPA time to determine your wave, you'll probably be wave 1 or at worst 2.
Having said that, I don't think it'll affect your race time much. BTMR in 2:14 is fast, and depending on how well trained you are for altitude, you should be able to break 3:15 regardless of start wave.
I think you'll have to pass over 1,000 people, definitely way over 500. You'll be able to pass a bunch of people in the first mile and a half, before the trail narrows. The next 2-3 miles after that will suck for you, to be honest. You'll be stuck behind lots of folks who are slower than you on the uphill. You'll be able to do some passing, but it'll be slow and take extra effort. At the same time, going slower than I want on the W's rarely ends up hurting my overall time, I end up feeling fresher and faster up high and making up the lost time. After the top of the W's and for most of the rest of the race, I find it's not that tough passing people. Runners have spaced out enough, and the trail is wider for the most part.
Overall, I doubt your wave will affect your total time by more than 5 minutes. Just my take, interesting to see if others will have different opinions.