Yes (IMHO). PG&E was found responsible for the biggest/worst fire(s) in recent history, and has since declared bankruptcy. They're giving us Californians a big middle finger. I mean really, suppose a fire were to start on the Berkeley campus -- that would not trigger a forest fire miles away.
I wouldn't say it's as emotional as a middle finger. Businesses manage risk in different ways, and one of the types of risk is legal risk. Based on new information that this risk is MUCH larger than they had previously accounted for, they are now making adjustments for it.
They can't afford another lawsuit like that one. They couldn't afford the one that already happened. So they are taking steps to prevent it.
It might be a good idea to study the physical geography of the Bay Area and read up on the history of the Oakland Hills fire. The Berkeley Campus is much larger than most people are aware of and extends up into the surrounding hills.
It’s not because of the lawsuit. Their grid really is dangerously under-maintained and prone to bursting into flames. Turning it off is the rational short-term move.