First, it may be a state issue, but as long as one state allows frivolous suits against the industry that serves the anti's purpose almost as well a if all 50 allowed them. And you know as well as I do that many states have no intention of disallowing them, ever.
Second, there is plenty of reason to fear in both the short term and the long term. The fact that most suits so far have been failed to go to trial doesn't mean the gunmakers came out unscathed, in every case they spent millions in legal fees before it ever came to that point. The antis don't have to win a blockbuster lawsuit to destroy the firearms industry, their strategy is to kill it by a thousand cuts. Every time some mayor or state AG sues a manufacturer or a group of manufacturers and distributors those defendants have to spend millions of dollars on defense lawyers just to have the suit thrown out.
And of course it's a near certainty that sooner or later a court will allow a frivolous suit to go to trial, and in many states the jury will automatically be stacked against the industry from the get-go. Contrary to what many people think, the firearms manufacturers are not huge corporations with deep pockets. I don't have the figures with me, but I can tell you that even the largest and most profitable gunmakers like S&W, Remington, and Ruger are very small potatoes indeed compared to practically any well known large American corporation, and just one 100 million dollar jury award would almost certainly put any one of them into bankruptcy.
I also know it will hurt the bottom line, but gunmakers are not forced to do business in states where they are exposed to these types of suits.