I think you’ll find most of the expats have left it’s too expensive to do otherwise.
It’s not just a cx “problem” it impacts all HKG carriers. As to stripping work visas that’s the immigration departments remit not the pilots. It would be naive to assume that they “missed” the fact that ka was shut down. In this town it’s rare that individual cases could ever impact policy.
As to cx being overmanned knowing their track record do you really think they keep people on out of the goodness of their heart or not simply because a few ex ka locals might complain?