Threatening Emirates with dropping the A380 program is a killer pressure point. Can you imagine it? It would leave Emirates with a dead fleet of elephants in their hands (brandwise). They would go from exclusive long haul kings, with hundreds of youtube videos of their wonderful first class to looking like a junk yard plane carrier.
This would also kill most A380 airport expansion plans. Right now airports around the globe are pushing or planning to push for expansions to welcome such an exclusive aircraft. Once Airbus announces it's over, no more airports will support the A380 and Emirates loses a hell lot of future money besides the obvious branding issues.
This is why I believe the Emirates sale will happen and the wonderful A380 will enjoy a very long, albeit shy, life.