My thought is that ShockWave is being deliberately inflammatory.
If EK want to have satisfied crew then they need to make the job attractive to its present and to its prospective employees. Dissatisfied crew are not going to endorse or keep quiet about a shrinking employment package.
Its not so long since EK recruited mainly from first world countries with almost zero wastage, now it recruits mainly from the third world with wastage rising rapidly through 10% per annum.
The EK job maybe attractive to people from South America, Africa and parts of South East Asia but it now attracts few people from Europe, North America, Australia and parts of the Far East. In fact its the people from these last mentioned backgrounds that are now leaving EK. The poacher has become the poached.
Lets say that 30 ANZ F/Os come to EK and in 3 years when the contract ends 25 of them go back to NZ then EK will have done nothing but defer the problem for 3 years.
These Band Aid solutions don't cut it, and if EK won't pay the right price to attract and retain the right people in the right numbers, then they will pay a greater commercial price in the months and years to come.
And ShockWaves pretence that EK is following the right commercial path is naive in the extreme. A competitive salary package is needed now.