People will buy tickets on the cheapest available at present. I personally do not think many currently care about points or lounges. Have you been through airports lately? It is hassle free and very fast through check in and security due no crowds.
As some form of normalcy returns I am sure this will change.
I've been enjoying some domestic travel recently and flights I've taken were generally 70-80%, no idea on the $ side.
REX should do well for the first few months, it would be interesting to know the advance booking numbers!
What is the REX cancelation policy due Covid shut downs (yes I could look it up)?