Both can be true. Some people will swear them off. Some won't. Some SWA will win back with steep discounting.

For me (I am affected), this is actually another in a series of recent events that are making me reconsider my preference for SWA. They are no longer a "cheap" airline, routinely more expensive than the other major carriers. Their planes are not nice anymore. I've flown on a few other airlines over the past few years and found their planes to be nicer with more features (like chargers and phone/tablet holders). And now this. The cancellations are one thing, but they totally botched the communication of it, and their practice of delaying flights throughout the day only to cancel half of them after several hours left people stranded.

Will I stop using them? We'll see how they respond, but they may not be my first choice anymore.