I find it fascinating, too.
I would have definitely worded it differently. I would have definitely said it in a more polite manner.
But I definitely agree with Jon's point regarding capitalism.
Granted, I'm an outsider looking in. I'm too old to really consider an airline type job, especially given the state of the market.
But, in a capitalist system, it really doesn't matter what someone thinks they are worth. Collective bargaining and unions and loans and debt and chapter 11/13 can certainly smooth out the bumps, but when it comes down to it, the customer is the one deciding how much money a particular service is worth.
Take my current industry, for example. 4 years ago, all I had to do was put the word "computer" or "internet" on a resume, and wham! Instaneous $150K job. Debt and loans and stupid investors kept things "smooth" for a while, but eventually the customers just wouldn't pay the price the companies were asking (assuming the company was even asking anything!)
Many computer industry people can still make a decent living, because there are enough customers willing to pay for certain services and goods, but it isn't anything like it used to be, and there are a lot of people worried about their next mortgage payment. Heck, if my Amazon stock had kept going up at the same rate, I'd be offering you all jobs flying for my own airline!
This is a good thing. It forced (is forcing) the industry to be more productive, more innovative, and really focus on what the customer wants.
I think the same can be said about the airline industry. I'm sorry if the truth hurts. Like it has been hard on computer employees the past few yeast, it is also unfortunate for pilots who planned on being worth more.
But, in the end, in spite of any "management mistakes" or "stupid airline tricks", it is the paying customer who decides what a pilot is worth.
That's reality. Capitalism will eventually move compensation for a product or service (and management) towards a sustainable level. Along the way, there will be booms and busts. When compensation levels get too far away (up or down) from a sustainable level, supply/demand will eventually correct the situation.
...Dave