Far better for the pax perspective possibly in terms of timings and connectivity but from an operator's perspective it will make it very hard to compete. If easyJet want to capacity dump and bleed out any new potential operator then they probably will just because they can if they think it will protect their yields in the long term. In their defence they've never offered a cap on prices so if they think people will be willing to pay £400+ that then they will charge it.
Maybe the new Flybe might offer something in the next few years? I've no idea who else would considering the recent attempts.