I know you don't want it to be true but it is absolutely true. In summary: It depends on the circumstance and what the counter party chooses to do if a charge is reversed. As I mentioned, a chargeback is not a legal opinion or arbitration. It means absolutely nothing in legal terms and does not absolve one of debt or obligation. You are still bound by contracts and by service agreements especially if you used the service or product in full.
The counter party can and most likely will (if there is significant money at stake) seek a claim for unpaid invoice or services rendered plus penalty charges. That claim will be filed locally and a judgement rendered. Once judgement is rendered, the claim will be sent for collections and reported to your credit report. There is certainly other adverse events that can come of it as well depending on the nature of the situation and the posture adopted by the company. There are a lot of tools businesses can do to recover obligations and it is completely up to them if they wish to pursue it.
So in summary, all these anecdotal tales of it not affecting credit rating is just that... anecdotal. In some cases it is absolutely the right path but in others, it can spell significant trouble, headache and cost. I think it would behoove everyone to be careful when providing advice that can have downstream issues.
As a reminder, I certainly did not come here picking an argument. Just the opposite, to properly inform you of the other side of the equation. A charge back is not as innocent or harmless as people think it is.