Yeah, it is a business. In business, when you screw your customer, he can screw the business back. I held a HUGE grudge against S&W, and wouldn't consider spending a PENNEY that would go to them, not just on firearms, but on anything that had a licensed S&W logo on. Business decisions cut both ways.
I am still not terribly happy with S&W for not publicly retracting their policy. The obvious PR articles in the shooting press about how the boycot was "hurting good, long time employees that had nothing to do with company policy" were pure BS, and made me even more determined not to buy.
In practice, S&W seems to have foresworn the Devil's bargain that was offered. I would buy a Smith if they made anything I was interested in.