You are right. When I joined it was with the understanding that I was joining a local airline and that inevitably once a local workforce was established I’d be surplus to requirements. With that went expat “perks”.
I was told I’d get 10 years 15 at best. I was fortunate that the market was strong and the post handover concept of
PR kept me employed (well until recently).
Another aspect is that most of the locals are constrained by their passport and license to working in HKG (even if they got a foreign license they’d be unlikely to get a work via).
One has to look at this from all angles. It’s a mess and the company really should have seen it coming.
Honestly if I were a local I’d be fed up. If the boot we’re on the other foot In sure the cx pilots would feel the same.