DEFCON
You have also largely described the life of a nurse, who also works shift work. Sure they don't live a life in an aluminium tube, but they also don't have the lurks and perks...ie staff travel...of your average flight attendant.
The major difference is a nurse does it for about half the money of a flight attendant.
I have many cabin crew friends in QF long haul. When I joined 2 years ago most were earning over 80K, and they were in the low to mid level seniority bracket. I know many professional people who work far harder and don't earn that much.
To my mind the market should rule and if you have capable people who can do the job and are prepared to accept the lesser rate, then its fair to say the incumbents are overpaid. There are thousands out there who would accept the life of a flight attendant on lesser T&C's, and who are more than capable doing so. And yes, I do believe the same for pilots. The essential point is they must be CAPABLE.
This is a job requiring no formal qualifications (all due respect to St John's and Responsible Service of Alcohol) and which can be trained in a matter of days. But witness the panic that sets in amongst crew prior to EP's. It's not rocket science, but you would swear Einstein would have trouble passing those exams!
The salary is not justified. It exists through 50 years of protected industry, and unions whose raison d'etre is the preservation of a slack, negative culture that is dragging down an entire airline. It is common amongst all legacy carriers, and it alone is the primary reason for the emergence of LCC's. Dixon has stated that if there was one employee group in QF he could start again with, it would be the cabin crew. Never a truer word spoken. With a little luck government control of both houses and new industrial relations legislation aimed directly at obstructionist unions will assist Qantas to smash the FAAA. Bring it on.
If you don't believe me, try flying another carrier and observe the positive, friendly attitudes of the cabin crew, most of whom earn far less than these sulky, unfriendly, rude, pathetic, protected princesses and queens that hold Qantas to ransom...