The boycott probably has some effect; but as someone who lived the past 5-years in Chile, I can say that Chilean and Argentinean wines are having a big impact on the world market. Chilean and Argie wines are very good and very cheap. I seek them out at local markets and would never consider a European wine over a good Chilean wine.
Also, France's production costs are way higher than the "New World" producers. I recently read that in France, one worker tends 2-hectares of vineyard, where in Australia and Chile one worker tends about 10-hectares. The French just can not compete economically. I toured a two-year old winery in Chile earlier this year and it was a world-class facility...everything state of art, owned by one of the wealthies families in Chile. The Chileans are doing joint-ventures with North American producers and are aggresively marketing their wines world wide.
Regards
Some of the most prosperous vineyards in Chile are owned by French vintners. Wine growing in France is closely regulated; to avoid these regs and to expand their production French vintners invested heavily in Chilean land that approaches the flinty consistency of the best French wine-growing soil.
They may even use French root-stock which is originally from Texas, imported to France after French root-stock was destroyed by disease.