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Because obviously red squirrels are still squirrels, but there's just far less of them. Don't think people would mind the occasional squirrel raid as long as they knew there was only going to be one of them for the entire neighbourhood. Alas.
Instead we dip into the UK's defense budget to engineer elaborste cages which leave karger birds hungry just to give a big middle finger to the grey bouncy buggers.
Bonus picture:
Don't know if/how this one got out again, it just came up when i searched for visual examples. Goes to show that we're never really safe. They can even get into our homes!
Apparently red squirrels spread out more and are more competetive with one another, and also have a much more limited selection of foods. That's what i was thinking of. This is one of the reasons greys are considered so bad - they out a lot more strain on the environment compared to their red counterparts.