There is no convincing evidence of arrogance having the impact you mentioned (a claim, incidentally, which seems to be launched most commonly as an outgrowth of consumer frustration than based on any objective evidence). Indeed, the most nefarious claim I've read, and see merit in, regarding the Coke situation, is that they planned this from the start (which is why they were able to relaunch the old formulation so quickly, and had already thought through the heartstring-tugging name "Coke Classic"). The hubbub perhaps was responsible for a massive surge in demand for Coke in the year or two afterwards. Amazingly strategic if true, and it is as believable as any other explanation I've read. If there is any arrogance, per se, it is clearly justified by cases like that, rather than condemnable.