Skill Shot is not just some "rinkydink zine." It's a beloved Seattle institution with deep ties to the local pinball scene and has contributed hugely to the resurgence of pinball in the area. It's a labor of love for everyone involved and as far as I know they either lose money on it or barely break even. It is totally volunteer-driven, all the way down to the folding of the zine at parties they hold whenever they put out a new issue. In addition to covering news and rumors from all aspects of the pinball scene both local and nationwide, the back of the zine is a giant fold-out list of every machine on location in the city, up-to-date and arranged by neighborhood and 21+/all-ages. Volunteers distribute around 2000 copies to all the local pinball venues and they are generally all snapped up quickly. I know they drop off something like 100 copies at the location where I op games, Full Tilt in Ballard, and the supply never meets the demand. All of the people involved are friends with everyone in the scene and are mainstays of tournaments, leagues, parties and other events around here. It's not uncommon to see many people wearing Skill Shot shirts at every local pinball gathering you go to. Many well known players have contributed articles to the zine or helped out with it in other ways.
In addition to the zine itself, Skill Shot hosts the huge annual Shorty's tournament as well as monthly tournaments and other events. Even their folding parties are popular. Python Anghelo did a seminar at least year's NW Pinball Show and he lauded Skill Shot specifically and said it was one of the things that puts Seattle at the front of the recent pinball resurgence.
As for the new Skill Shot Pinball Company, I am familiar with the guys who run it through the arcade scene, but I have never seen either of them at a single local pinball gathering, and I go to dozens (and run 50-some weekly tournaments) every year. One of them has posted almost exclusively about his "hyperpin" (a pinball MAME cab) on local forums for as long as I can remember. They are not really connected to what's going on in pinball around here, so maybe they were somehow unaware of the Skill Shot zine when they chose that name. I hope so.
I don't know if threatening legal action is the right move, but I do think they should change their name just because it's the right thing to do. Continuing to use it will only make them look bad to the people who I assume they are trying to appeal to, the pinball scene that has been embraced for years (and arguably, to a degree, created) by Skill Shot zine.