A quick anecdote: While reading this article I noticed that I don't remember getting my referral link from Sidebar. I searched my Gmail for "in:spam sidebar" and there it was - the only Sidebar email which Gmail has ever flagged as spam.
I know MailChimp has tools for testing the spamminess of a campaign and this message probably passed all of them since there's nothing particularly spammy about it. Maybe it was random or maybe the referral link was just enough to trigger the spam filter in (my) Gmail.
If the open rate for the MailChimp campaign wasn't particularly low spam filtering wasn't probably a significant factor in the overall conversion rate.