It probably goes without saying that we move in different circles, but from my end it absolutely was a moral objection and the majority of those people left the party after the second leadership election. You may disagree with them but they’ve been consistent, and are as appalled at the flip-floppers in the party and the commentariat as they are at Corbyn and McDonnell themselves.
I wouldn’t necessarily disagree if you told me they’re a minority and that for most it was about electability, though.