My brother-in-law worked for Coors for years. What he told me is that beer consumption overall has been dropping, and slowly but steadily the company has been downsizing, laying off. Coors has tried to capitalize on the only growing part of the business, craft beers, but not nearly enough to compensate for the drop in sales for regular beer.
I read that in 2000 beer was almost 60% of alcohol sales and now it was around 40%.
Maybe it was a bad marketing decision, but I don't really understand the uproar. I suppose they could have introduced a new brand to target the market.