Brad, "few are stupid enough to ignore a threat" referred to Kelton Swade, who not only ignored the threat but was publicly defiant about it. No surprise that it was settled out of court.
As for the Swade on Reverb, I'd guess its dealer NOS (how can you tell with a relic anyway?). An individual with a pre-lawsuit Swade could still sell it openly. Unlike Rickenbacker, Fender wouldn't go after an individual seller's listing unless it was represented as a genuine Fender.
Kelton Swade (real name Joe Koegel) is infamous at TDPRI. Not just for his bullshit hype but for ripping people off.