Without going to the heavy words like moral, ethics .... I can explain the situation (both) perfectly in Financial terms.
Let's start from a bit off track - top decile (10%) of PAK's population is filthy rich, these are most lavish people in world. Forget PAK, if one goes for a walk at around 3AM in Dhaka's airport access way, chances are high that he'll see some extravagant car race - Murcialago, Diabalo, Avantador, Ferrari, Massareti, Alfa Romeo, Royce Phantom ... even there is a record of someone (very common name, there are millions with that name in BD) releasing a Bugati Veyron at 300% tax at Chittagong port .... these cars are never seen in day time. These are toys of the rich & the spoiled ..... they can keep DMP Commissioner at their pay role, who would ask his forces to block National Highway for couple of hours .....
10% of PAK is 23 million - more than many of the 1st world countries entire population. Bottom line is there is enough, enough market ...... STILL Nike & Adidas & Puma doesn't even touch PAK cricket team, which is still the heart throb in PAK and across world where PAK diaspora is dense. The reason (someone can cross check, if possible) - Salman Butt & couple of NO Balls. Top global brands wouldn't touch PAK team even with a pole as long as team's images are shady.
Cricket is a dying game, only 10-12 countries play it seriously, of which may be 90% cricket lover hardly understands the technicalities of fixing, sledging, tempering, pitch doctoring ..... rest of the world 90% doesn't even know the game cricket. But, what people across globe know (& hate) is corruption in sports - fixing, doping, cheating. These are massive, massive negative connotation for any global brand, whose 1% fall in market share can get the CEO sacked!!!!!! I am writing this from my professional experience - it can't be a bigger disaster for any consumer brand, where gossip runs faster than any promotion andit;s beyond boundary.
Now, coming to the current situation - take a took at the Sponsors of AUS team, which is the most sought after brand in cricket (Indian team might have higher value for the volume of market, but Aussies are the Brazil of Cricket) - Commonwealth Bank, XXXX, VB, Magellan, Accenture, Optus, Toyota, KFC, Oasis, Bupa, Nestle, Qantas, Hardys ...... these are the TOP names in their industry across globe. These brands would pay big, and their risk premium is higher as well - they won't leave any space for CA to play cat & mouse with their brand ambassador (here AUS cricket team & it's image). Hence that prompt, spontaneous and to me quite strict action.
Coming to Afridi incident - for a beggar like PCB, Afridi was their thali (begging bowl). Lala earned more bucks for PCB's officials' luxury than what the most popular entertainment of world's 5th largest populated market couldn't; hence PCB had to act opposite to CA.
Trust me, I do see both incidents quite similar - the Smith out come is what a proper functioning business house should do; while the Afridi outcome doesn't reflect PCB's moral bankruptcy, rather their incompetence and bankruptcy of PAK cricket - lack of leadership and worthless people holding on to something way above their grasp.