Don't overlook the changing face of society and culture as a major factor in what is happening here. In the 60's, 70's and 80's the threat was communism and Russia. Everything was geared towards combating that threat, and generally, the great unwashed agreed that it was a real threat. Life in the services had a purpose and a focus, the odd war popped up from time to time for some diversity in training and role execution, but we all knew what we there for, and being the military instruments of the Government of the day posed few problems for the majority. Everybody still griped about terms and conditions, it's the nature of the military beast after all, but you could always balance it against the greater good and goals of the larger political objective.
What has changed, is that the disenfranchising of the Services through such means as civilianization of supporting services, local budgetary controls that undermine terms and conditions, and general petty minded bureaucracy, has been matched with the moral bankruptcy of the Government in its military endeavours. So while the military benefits and life style are being eroded on a daily basis, the raison d'etre for serving Queen and country has been hijacked by a bunch of political spivs who are in it purely for themselves. This is being reflected in the attitude of those leaving today, who would clearly be able to tolerate the poor conditions and low morale if only it was to serve some higher calling or purpose (we all sign that piece of paper, after all). Instead they see 20 years plus of service to the country being gambled and squandered by a bunch of second rate chancers and gamblers. Grounds indeed for heading for the life boats, while there are still some left.
Good luck and thanks to all of you.