Thus the case for T2 to solve overcrowding. Whether it can be financed now is a different storey.
Stansted was very under utilised at the time and a deal by MOL was on the cards. BA all but quit LGW so EZY moved in.
Luton does/did have terminal capacity, what it lacks is runway and overnight capacity. If anyone scales back at Luton, Wizzair will slap it up. They do have plans for LGW and I can see a second Wizzair UK base at some point. Whatever they publicly say, the 321XLRs will be ideal based at LGW.