Sad, but true. I remember the days when flying was something special: one would wear their best clothes, family and friends would get excited and/or envious waving from the observation terraces. Nowadays it's the usual suspects of blue/orange/magenta tails at most of the airports, but hey, most of us probably wouldn't even work in the industry if it weren't for the boom of the LCC-s and many people would've never tasted flying either.
The problem lies with greed, but greed on a massive scale backed up with law. Did state aid to the legacies really hurt the market of the LCC-s? Maybe. However when most of them started they did cater for a complete different breed of PAX.
But in the days of the big three posting net profits in the hundreds of millions, if not billions of EUR all this is irrelevant, IMHO.
Live and let live me says, but sadly that's not how this industry works.