Worm
Taste the diffidence
No. Just because he hasn't compromised himself in respect of all of his professed principles doesn't mean he hasn't compromised himself in respect of some. He isn't refusing to get involved in a reunion because of some noble belief in the integrity of "The Smiths". He refuses because it would suggest that he needed the other three (or even just Marr) and because, in his view, it would give them something they don't deserve and that he'd rather withhold from them.
I agree with you about his reasons for not reforming The Smiths, or "The Smiths". That doesn't change the fact that he would make a killing by rejoining Marr for a series of gigs, either as The Smiths or as Morrissey and Marr. Whatever his motivations may be, he has walked away from a giant payday again and again and again. Greatest Hits packages and the like are misdemeanors. He hasn't sold his soul for money, and that's what really counts here. Tossing around the word "hypocrite" seems unfair.