Hey, Jesse-
I've been flying for 16 years now, 12 of them professionally. I have done the whole CFI, box hauling, and regional flying thing. In the early years, I worked several undesirable jobs just to make ends meet. I was working during the early '90s recession, and during the late '90s boom. It's been a brutal road to get where I am today, and I still have a ways to go before I feel I have really "made it".
As you know, the economy, and particularly the airlines, are really in the toilet right now. I don't know when it will come around again, or what the airlines will look like when things finally do come around. I doubt it will look like the late '90s any time soon, if ever.
What I have seen, though, is that even though the industry typically goes in cycles, a pilot's thinking about the future is typically linear. A pilot will look at the state of the industry, his airline, his current job, and project this state out to the infinite future, i.e. "Right now I am on reserve as a junior FO in the most junior base, therefore I will retire on reserve as a junior FO in the most junior base. This is my lot in life, and it will never change". I am only exaggerating slightly. This is how many pilots' thought process works.
Thus, since the industry is in the toilet right now, using the aforementioned logic, it will be in the toilet for the infinite future. Hence the advice to you that it will never, ever be a viable career. Personally, I make it a policy not to try to predict more than about two years down the road. Predictions made beyond that timeline tend to become wildly inaccurate.
As far as what turns people off about this field, it's the airline management. They know that they have a "captive audience", as seniority makes it difficult to pack up and go somewhere else. Therefore, they tend to abuse their workforce. They will use threats of job cuts in order to get concessions. They will outsource flying to the lowest bidding subcontractor. They will violate the contract repeatedly, then continue to do so while the grievances pile up in the arbitration process.
I still enjoy the flying, although the "job" isn't what I thought it would be. It's a much harsher work environment then I would have imagined until I experienced it firsthand. I still couldn't imagine doing anything else.
That having been said, I'm not sure what you are doing right now, but if you are making a decent living, "don't quit your day job." At least not yet. Get all your ratings, up through CFII/MEI and make sure all of your debts are paid off. Instruct part time if you can, and just keep an eye on the industry. I have no idea when things will come around again, but at least if you have all your ducks in a row you will be ready to jump in when it does.
Hope that helps some.
LAXSaabdude.