The comparison with the early stages of easyJet is superficial and not accurate. When the business started, it did not have its own AOC and actually flew on GB Airways’ AOC before moving onto Air Foyle’s.
There was a clear and CAA approved protection structure in place around easyJet when it began, and they had hired a reputable lawyer to advise them on it.
The comparison is valid in so far as you can start without an AOC and it can be done, but that’s about as far as the similarities go.