Businesses need to evolve and adapt to a changing environment. In the old days we only had First and Economy classes. Then Business class came in the middle. Then First class started being dropped while Business class improved with lie flat beds. Now Premium Economy is appearing between Economy and Business Class.
Low costs were once all one class, now many of them have a Business Class which is similar to a full service Premium Economy class.
What worked 5 or 10 years ago may not necessarily work today with a different demographic. Think of all the household names which have disappeared from the high street because they didn’t adapt.
Ryanair is/was the largest airline in Europe and around the fifth largest in the world and are a penny pinching LCC.
Future growth will be in the Low cost area rather than full service.