Hunter
I believe you are correct in your reasoning on the current Atlas issue. However, if Atlas can't adapt to the realities of being a big player in the world aviation market should it continue to exist? Those realities include paying proper wages and establishing equitable work rules for its employees.
If the company folds due to the pressure of a strike what have the crews really lost? They were getting royally screwed in the best of times and only the possibility of a decent contract kept most of them there. If the contract is not forthcoming they will strike. If the company doesn't respond properly it folds. Keep in mind that while an aircrew strike may drive Atlas out of business, paying the salaries and agreeing to the workrules requested by the union certainly will not.
I suspect the individual crewmembers at Atlas are very aware of both possibile outcomes and have planned for each of them. The point is why prolong the pain? A strike has the certain outcome of ending it one way or another and they can get on with their lives.
Good luck to them.