Exactly. Unlike when Ansett went broke there was still a large GA market that Ansett guys found their way into. These days there are very few GA jobs that airline pilots would migrate to. I would takes a guess and say that the whole GA market has probably almost halved in size in the last 20 years.
My guess will be that the majority of people retrenched in this round will probably leave the industry unless there is an immediate economic upswing next year. People just can't wait around for years on end for a flying job. Especially those who have spent the first 10 years of their career already playing that game.