Picador is on the edge? Huh, I didn't know. I know she was hurt, but her unit got out relatively unscathed. But they didn't lose the war, thier "client" lost the war. I would think that as long as they got paid, mercs don't care. But I didn't hear anything about Picador being "on the edge". *shrugs*
Also, that does bring me to a few points. I still think it's a boneheaded thing for Aztlan to relase a snuff-vid. First, yeah Picador and the 77th were enemies during the war, but she was a lawful enemy combatant. And while it's never really been spelled out, it's been hinted at there is a code of conduct/rules of engagement/whatever for military contractors to abide by; I see it as a updated Geneva Convention. So, as long as Picador or any lawfull combatant doesnt commit a "warcrime" or something, they technically have protections under international and I would guess corporate law. And the corps love their rules, if for no other reason to exploit them.
Conversely, doing a snuff-vid on a captured legal combatant would be a violation of said rules/laws and lead to a lot of other corps and or governments taking advantage to knock Aztlan down a few pegs. Why would Aztlan give them the ammo and risk what they've gained? Not to mention...
It would backfire with mercs. To use a real life example, it wouldn't "demoralize" anyone, it would piss them off and galvanise them. I've known a few vets who saw similar things happen to their buddies. Do you know what they do? They don't cower, they go harder if given the chance. That and it's a great way to create martyrs.
And, like it or not, Aztlan NEEDS mercs (now more than ever). You don't alienate your potential hiring pool by being all evil-mustache twirling or blood thirsty. What self-respecting, top-tier unit would want to work WITH Aztlan/Aztechnology if they knew this was being pulled? SImplty put, the mercenary biz is still a business and sacrificing mercs just to look like a bad-ass is bad for business. Hell, just becsue they worked against you one time, doesnt mean they my not work for you in the future.
But hey, that's just one person's opinion. If in your game you need Aztlan to make a snuff-vid as part of your plot, who am I to argue?