If Loganair were just retreating into being the "niche carrier for non discretionary travel" (and rich people) then that would be sad, but it also wouldn't actually be the worst thing. What's happening seems to be worse; an alarming progressive death of regional flying (from Scotland / in the UK / across Europe). In the past Glasgow had niche carriers for non-discretionary travel to places like Norwich, Cambridge, Leeds, East Midlands.
It feels like there is an inherent market failure. It's sensible for all but the very biggest airlines to operate only one size of aircraft; and it's sensible for that size to be 'not small'. Operators of small aircraft seem fated to live a life where they can only operate routes that are both successful but also cannot physically be operated by larger aircraft. If there is a whiff of a possibility that someone might be able to operate a larger aircraft on the route then the operator is doomed (whether they are Loganair at the hands of easyJet or Eastern at the hands of Loganair!) to be usurped by someone for whom the route is clearly not going to be a strategic priority.