Personally, in the facts scenario that you present, there seem to be a few more fundamental important questions beyond whether Craig and Calvin would ultimately be "successful" because that would be a real long game answer - and likely too difficult to answer without knowing interim developments which would seem to be the more important questions at the moment, such as:

1) is what they are saying really true... Do they actually have such patent (and financial backing) ammunition in place?

2)  assuming that 1) above is true, then are they ready, willing and able to play those cards (or just threatening to play them without any ability to follow through, which seems to be a kind of modus operandi of craig),

3) assuming they follow through with 2) above, would their efforts be effective (does bitcoin give a shit).  Maybe some aspects of dumb money cares (and perhaps temporarily) but when it comes down to actual bitcoin dynamics would bitcoin continue to grow in spite of whatever efforts that they attempt to make through various traditional legal institutions, and perhaps their efforts would even have the opposite effect to show that bitcoin does not give a shit

TLDR:  I would have to see some of this play out for a while, before I would take those loonies at their word... and not just short term downward BTC price manipulation that might not last much longer - but might not really be connected in any meaningful way to them, just that BTC price is correcting based on a variety of needs to purge a lot of the dumber money.. which could take a while with so many various shit coins and ICOs still holding some value and still pumping with every little sign of a possible BTC recovery.