the average punter wants the cheapest possible flight, seldom are their interested things like the maintenance record of a company, its procedures, its training etc.
The average punter more than likely assumes that all of that is the same for airlines, because the "government makes them do it". Where they perceive the cheap fares come from is: reduced face to face staff, reduced services on the aircraft, paying extra for things like luggage allowance, food and beverages, In-flight Entertainment, etc that the expensive ticket has included. That is where they will think the airline is saving money. They just think the full cost carriers are ripping people off.