I'd agree with that assessment. I'm sure CO made this change in order to protect profit. If it's less convenient for customers, so be it. I noticed this change a couple years ago.
As far as the EWR is in NJ argument, I would just point out that there was a time when EWR was the *only* airport serving NYC. Recall Mayor Fiorello LaGuardia's famous "my ticket says New York" incident:
http://www.answers.com/topic/laguardia-airport