Nope Buzz, it definitely isn't that the credulous wet their pants that killed it.
It is essentially identical to many other bills over the years that died in committee. There simply isn't any support for anything this radical, even among the nut job anti's (the one's with half a brain anyway). There are a couple dozen more F's who would have been all over it for political gain if it had a chance in hell.
Their absence proves the fact it was a non-issue from day one.
Note that I'm not saying "ignore it"; I'm saying there's just no rational basis to fear it and thus it can be merely watched as it dies of neglect like every freaking bill of its type before it.
None of this stuff happens overnight, if it breaks 20 co-sponsors it might be worth re-examining but to bitch about it now merely makes us appear paranoid and downright stupid to those we need on our side when "reasonable sounding" legislation with actual traction and a hope in hell of passing appears.
Do we really want the undecideds and "moderates", both in public and Congress, saying "look at the gun nuts crying wolf again" using this bill and HR 45 and the rest of the recent non-issue vanity legislation as an example of our idiocy as we move against, say, the UN Small Arms Treaty ratification, which, to the uninformed, doesn't sound so bad?