It is more than that. If they make any significant cuts, they will have "dead air." Also, the advertisers who already paid for the series they previewed will have Cause to withhold payment (or sue) for ABC not delivering on the content they promised. This could be in the 10s of millions (or more).
The time has been sold and paid for and money advanced. There is no way in heck that they (ABC) will do anything more than an anemic "disclaimer."
These Lefty fools don't understand how the TV business works. Their little tantrum means nothing.
The damn fools know not what they do.
I'm not 100% sure, but I had read in more than one place that ABC had decided to air the miniseries without commercial interruptions. So advertisers wouldn't be part of the equation.
But ratings for all other ABC shows definitely would.