I dunno, I reckon the hub is here to stay. When it comes to Point to Point, I would argue that, unless you live in a point city, P2P does not exist. Take UK for example, an airline might only offer a P2P flight from London to Perth. If you want to go from Glasgow to Perth, you are going to go VIA London anyway......if that is P2P then they can keep it. It requires an uncoordinated local flight, quite possibly with a change in terminals. Yuk, I'm sorry but I will still prefer the flight from GLA that goes via DXB with possible a cheap stay-over thrown in or, at worst, a well coordinated connection.
Nah, IMHO, we can argue about when it will recover but the ME hub is here to stay.