Aviation is at the top of the cycle, and I am sure that some of our more learned colleagues on this site would have seen similar highs in their earlier career.
The issue here, is that senior management ie GGM level, did not respond earlier enough to the signs - which I am sure were passed up the chain, and respond in a strategic and tactical manner.
Young pilots would always leave a turboprop operator regardless of pay...generally most airline type pilots aspire towards flying jets and QF Link cannot offer that pathway.