Is it really a bad example? The typical scare story about trade agreements seems to be that they're going to result in some big scary multinational shutting off

Is it really a bad example? The typical scare story about trade agreements seems to be that they're going to result in some big scary multinational shutting off the water supply or something. Is that really the common case or even all that plausible? Or is it just going to be normal businesses like Apple colliding with some country's protectionist policies that are counter to the trade agreement? Besides, if these supposed kangaroo courts are really so unfair the aggrieved countries could just leave the TTIP. That seems to be another detail that's glossed over, that somehow these pan-national arbitration bodies are going to be corrupt, but not quite so corrupt that the trade agreement isn't an overall improvement for the countries involved, because otherwise they'd be pulling out of it, right?