You're quite right.

I've been far from happy with the way this case has been covered in the tech press; the sky is not falling, you can still resell your iPod when you're done with it. What you can't do is start a side business where you become a company's competitor by finding another country where prices are low enough that you can buy bulk and import into the US for less than the US price.

Which should surprise practically nobody, so I guess that's why everybody is rushing to sensationalize the hell out of this.

(and the fact that a sensationalized version of this appears and gets highly upvoted on HN about once a week is a depressing indicator of not just the press, but the state of the community they're feeding)