"In the short term, a major collision is more akin to the Exxon Valdez oil spill disaster than a Hollywood-style immediate end of operations in orbit. Indeed, satellite operations could continue after a major collision, but would have different operating parameters, including a higher risk of collision damage."
This is why I did a poll here about name recognition for Exxon Valdez a few months ago! (You young'uns go read about it because many of you don't know)