Pointing a gun at somebody for whatever reason is always a death threat. A kind of way of saying "you obey me now, or I'll shoot/kill you". I mean, how else can I interpret it? Can't think of any other interpretation.
Now if you are in real danger a threat with a weapon can be justified, even in the Netherlands, where I live, where gun regulation is very extremely strict (although you can still be sued for the fact you had that weapon in your possession, unless you have license). However, I've been told that these people were never in a threatening situation, at least, not until they showed their guns (since the normal reaction to a threat is aggression. In fact, aggression is a natural instinct to deal with mortal danger), and then the threat is no longer a defensive action, but a provocation.
Yes, I've seen the video "They call us criminals" as it was shown on the Dutch news, as well, and I didn't need the Dutch translation subtitle to understand what they were saying (the NL doesn't redub foreign languages, but provide translations in subtitles in stead). And since all information I have about that particular incident points to a provocation rather than an act of defense, it being used in a political campaign is indeed disturbing at best.
Indeed pointing a real gun at people is not something to be taken lightly. Besides it being a death threat, it's also dangerous. If you accidentally fire the gun, you can still kill somebody, as the bullets don't care if they were supposed to be fired or not. Plus, rule of gun fight is, when you cock your gun at somebody you give them the right to shoot you as well (not a legal rule, but an unwritten rule), and the worst part is, your opponent can then say it was self defense. You cocked your gun first, after all. And as far as I heard the woman's gun was fake, but the man's gun was not. I'm glad I was not there at that particular time.