I think they are confused. “Voting with your wallet” has never been effective, but it’s also not what a boycott is. “Vote with your wallet” is a trite individualist adage that encourages people to ignore any kind of organized or sustained activity in opposition to what a corporation does and instead silently go their own way, without comment or explanation; the whole spirit of the adage in pretty much every time I’ve seen it used is to discourage people from speaking out or putting real energy into change and instead, to put it one way, “letting their wallet speak for them.” Boycotting means putting on sustained, at least (loosely) organized pressure. A boycott doesn’t necessarily have anything to do with whether you personally like the product (it could even be your favorite thing); “vote with your wallet” does and is often centered around personal preferences. A boycott is meant to effect change and can do so via sustained numbers of people at it with shared vocalized intent making something untenable as a business decision; “vote with your wallet” is anarcho-capitalist “chaotic and random individual choices will regulate the market” delusion.