To be honest, it's probably not. A small, legal pointer isn't going to be a hazard unless you're aiming it at a helicopter that is only a few hundred feet away.
The threat is fairly overblown even with higher powered lasers (such as the Wicked Lasers Arctic Spyder 3, which makes a watt of blue and can be had for around $300), since you still have the problem of how to hold the beam steady enough to hit a pilot's pupil from thousands of feet away. But the higher power level does mean you can cause a distraction from a much greater distance.
Still, if I was I pilot, knowing what I know about lasers, I'd rather deal with a pointer than a cloud of balloons.
Adam