Still not desperately bad. Things will certainly get much worse when it goes to 1x daily.
I suspect that you are right and this may be compounded by the route timings no longer attracting as many higher yielding business passenger who will defect to another route.
Baby and CWL will be hoping to retain these pax on CWL-EDI but many will use EZY BRS-GLA instead.
Baby just can't seem to make it work double daily having now tried twice, maybe the aircraft is just too big.
Now which loco operates a smaller aircraft? Maybe Flybe could be the knight in shining armour here, and on many other routes around the country which are in danger of being dumped as the mainstream locos continue to upsize in terms of aircraft being operated to gain economies of scale.
Only time will tell and my crystal ball is bust.
Ex