First off, that wasn't an apology for Radio Shack's problems, nor an attempt to say that they were blameless. From what I've read (*), the company quite clearly *has* been obviously mismanaged and directionless for a long time now, and would probably have gone under on that basis.
What I'm criticising with respect to Radio Shack- or rather with the market's use of it- is a problem with derivatives in general. It's the fact that they've become detached from the business processes that they were meant to relate to (and serve), and have become the driving force in their own right, a massively overgrown tail wagging a tiny (and irrelevant) dog.
The point is that the people on either side aren't interested in Radio Shack per se, they're interested in exploiting and using insurance policies- in effect, derivatives here- taken out against Radio Shack, bundled up, passed around and abstracted away from the business itself. And, on the opposite side, the interests of the insurance company (e.g.) in insuring against a payout, in effect a derivative in itself.
Radio Shack is still "important" in the way that the ball is important in a football game.
None of this excuses Radio Shack's own failings, in fact it says nothing about that either way. What it *was* an attack on is the financial markets creating derivatives of derivatives of derivatives that are so far detached from their original purpose as to be irrelevant. Until- as in 2008- the "real life" issues (e.g. the housing market) hidden away hit the fan and cause masses more damage thanks to the multiplying effect of derivatives, or the other way around, i.e. the use of derivatives as a plaything causes damage to the real world entity.
(*) I live in the UK, where all the Tandy stores (i.e. Radio Shack) were sold off to a mobile phone retailer around 15 years ago.