Possibly, also promotional lead in fare to attract passengers in the first few months; remember many prospective customers will live to the east of the Bristol conurbation, who would otherwise consider flying from LHR, and I wouldn't mind betting that fares down the back end are similarly competitive from LHR. Another possibility is that bookings are already good from BHX and the algorithms that drive fares may have raised the bar on certain dates already.
I very much doubt there is any "conspiracy" against BHX. But we love conspiracy theories!