I don't understand why you think the future is lo-co only?
BA have operated a point to point service from MAN - JFK and couldn't make it work, AA fly a point to hub service, this is the key difference. There is still massive potential for other long haul operators to offer a point to hub service around the world. It's natural in an economic downturn that airlines will cut their thin routes and retreat to tried and tested fomulas. It doesn't mean there's not money to be made.