I guess time will tell who's right in this debate, hindsight not being afforded currently to those tasked with making these high value decisions. What I will say is that there's a big difference between cancelling domestic services as apposed to International ones, with passengers trying to get home from abroad. The recent ATC screw up in the UK caused BA to cancel most of it's domestic flights but kept the International ones going. I know the situation is somewhat different with weather but the internal flights will always be the first to be canned!
The most important aspect of any operation is that the Captain on the day reviews the current information and makes a sensible decision based on the risk HE or SHE considers acceptable rather than what risk THE COMPANY considers acceptable. You only need to see what's happened recently in Iraq to see that there can be a disconnect between the two.
Harry