I think we are in danger of looking backwards not forwards as to the reasons for experienced pilots wanting to join BA. Yes the current deal isn't the best ... but, then again pay and conditions could hardly get worse otherwise even less would apply to join and even more would leave (especially now there is no FS pension scheme to look forward to).
So, whilst BA pilots will continue to be worked hard (why should they be different to the rest of the world), pay - being the only quick and easy solution - is likely to improve.
Final point - BA sits on an extraordinarily valuable piece of real estate that is virtually recession-proof. As people have pointed out already, pay isn't the be all and end all, but it really hurts when there isn't any at all.