“Who is going to want to buy an old stupid gun

rather than a smart gun?” Teret asked.
Yeah, who would want their old stupid iron that goes 'Bang' every time instead of a buggy, overcomplicated piece of crap that can't be trusted?

And you'll notice Bloomberg money behind this, along with the company involved being
...Armatix, which works enthusiastically to curry favor from Geneva’s Small Arms Survey and the notoriously anti-gun International Action Network on Small Arms...

And this is in the Dark and Fascist State of New Jersey.  Which has a law that means, even if this is a piece of unreliable crap,  “The law … requires the state’s gun dealers to exclusively sell smart guns within three years after the first one hits the market.”(except for cops, of course, they're exempt); so it doesn't have to be worth crap as long as it's on the market and Bloomberg & Co. can say "No more old-style guns sold within three years."

Oh yeah, it's a threat.  And you think that bastard Christie will have any problem with it?