As a Texas resident I think this is a good thing. The real untouched key point is legislature creates the rules and they never designed it with emergency in mind. I doubt it was nefarious at the time in the late 90s.
In the case of ERCOT I am less interested in lawsuits but how we change the rules going forward. Do we want to introduce language about emergency power. Have we worked out a fix for not killing power to the natural gas wells? The governor appoints member to the org that ERCOT reports to. I don’t like him but enough voters do that we won’t get change there.