I think you've got it exactly right. I remember people saying that Faramir was a good sign in that it meant that Sideshow wasn't just going to be doing the fellowship (everyone assumed that would be done) but would also be branching out into more peripheral characters. But I think Sideshow underestimated the effect that the choice (combined with mounting delays and the disastrous paint) would have on people's enthusiasm.
It would be criminal not to get a Gimli PF. CRIMINAL! They wouldn't be facing any of the challenges that they had with the 1/6 scale figures, like getting a properly scaled articulated body, or how to do his armor, etc. They've already done similar things on the other PFs. They just have to do it for Gimli. I'd buy it in a second. The likeness probably wouldn't even be that big of an issue, given that most of his face is covered by his beard.