Also, we're well over 40 years past its enactment. We're dealing with things now that weren't even a twinkle in someones eye at that time. Not to mention todays society is a much different one than it was then as well. Not that is isn't, or wasn't a good idea, but it should be updated to reflect current times so that someone doing a little gold digging can't use it as a crutch. For example the Realtor being sued because of the property description. That's absolutely freaking ridiculous. It's another McDonald's coffee example, and a mockery of the legal system.
As it relates to this particular case, there is a way to make a visual presentation accessible to a blind person. In my earlier illustration of suing iTunes, there isn't a way to make a presentation to a deaf person other than handing them the lyrics to read. In turn that doesn't do much good, which is probably why you don't see radio stations being sued. Talk radio is another deal, as I suppose it technically could be closed captioned, but it's another case on its own.
What about home offices? Technically they have a business address, right? If their office isn't accessible, should they be sued too? Regardless of any reform people say is being enacted, the legal nightmares are just getting worse.
In this example the end user has a choice to go elsewhere, as Mal pointed out originally. So the question is, was the end user caused any harm due to negligence by the company? No, they were not. If it was the only available option for shopping, then that would be different. I still think web standards are the right thing to do, going in hand with accessibility, but it's the legal issue I have the problem with.