EWL,
Of course you're correct. There's horses for courses and while many shy away from no-frills, there's probably a silent majority that are happy to take a bit of an operational risk and go with the LCCs. Most would book online, so you would probably never see them.
However, I have no time for people who do "take the risk", but run into issues. You can't have your cake and eat it too .. although many expect to be able to to.
LCCs dropping routes like hot potatoes? Yes, indeed .. I have just become a victim of such a move by Air Asia, on a very long haul leg. However, at least in this case, they are moving passengers (6 months worth) onto other carriers ... at no extra charge. So, I really have nothing to complain about.