Maybe it's less of an issue for the domestic flights, but as a passenger, I've never touched a US carrier (nor BA) ever since my first experience of them, despite the option (and cheaper at that) being present.
On international routes I currently do go for quality over price.
Maybe it's my naivety, being young I've never experienced a recession before, but I do like to think I'll still keep choosing quality over price. At the end of the day *some* at least (I agree I'm in the minority but maybe there are more like-minded individuals than you at first think) do regard air travel as a journey and not simply another means of public transport.
(I'd rather spend less of my cash elsewhere than crimp on my air travel preference - i's just not fair on the quality employers otherwise.)