I guess “boycott” is the abbreviated description of what happened to BudLight, but I don’t think this was a traditional organized boycott. I think it was spontaneous and near-universal revulsion. There’s obviously no way to know, but I’d wager that if this “boycott” were somehow organized, the dropoff in sales would actually be significantly less than it is.
I agree with you, some are boycotting but what is killing Bud Light is that the beer-swilling guys just said hell no and they and their beer-swilling buddies who are the core of the beer world, knocking out several cases a week, every week, while working on their cars, playing pool, shooting rats at the dump, playing horseshoes at the neighborhood bar, painting apartments, watching sports, fishing, are just switching brands.
There isn’t really a boycott to end, a chunk of their big, dependable base has already moved on and they won’t be back.