Ametyst, I hope your airports expansion plans are not built on (Mersey) sand!
Jealous has nothing to do with this. It seems to me that all that is happening is that GSM is simply adding pressure to the Loco bubble in an area of the market that is largely untried & tested (at least since Laker days). It remains to be seen as to what the market is for the largely basic product that GSM are to offer. Personally I'd prefer a higher end product offering occasional discounts with an airline that has strong US links as a basis of expansion, rather than rest my hopes on the performance reliability of a couple of old 752's offering less than average levels of service & comfort, focusing on NYC as the 'end product'...but then perhaps that's what market research has indicated is appropriate for you.