H&M's coverage in the UK is tempered by H's relationship with KC3. In the US, not only is H's title of Prince a red flag as the US fought H's ancestors for independence, but the first amendment provides extremely broad protection for publications. So, the US media can cover H&M far more negatively and include far more speculation than any comparable UK media entity.
IMHO, H&M's coverage is only going to get more negative with each failed project and as their social clout wanes some of the people they crossed will likely speak out...a sort of self-reinforcing negative spiral.
Finally, once the next generation of royals (QE2's great-grandchildren) crosses eighteen, H&M's coverage will collapse as 50-year-olds whining about HIHO for the millionth time cannot compete with a bunch of fresh faced, fashionable twenty somethings.