wakeupcall - what an appropriate handle.
Normally I tell wannabes to go away to the wannabes forum, but you have done a commendable amount of research, and deserve an answer.
a)
Is this as low as it can go?
We thought B-Scale was as low as it could go, then there was "Freighter Scale", then "Unified Scale".
But it's not just salary, there are other side benefits as well. Admittedly, LEPs don't get housing (except as a Captain) or education, but other things like staff travel & medical are constantly being slowly degraded.
When economic times are tough, we get bombarded with the phrase "market forces" as an excuse to attack our conditions & pay, yet during the good times, they are very good at resisting those same "market forces"
b)
Or, does the management simply let inflation deteriorate the living standard of pilots?
Short answer: Yes.
Long Answer: Yes. See a) above.
c)
For those working now, do you still love flying?
Personally, yes, although over a whole career (CX & pre-CX), there are ups & downs, with times you want to walk away, and other times you re-discover your love of flying. On balance, enjoyment factor has come out on top for me in 20+ years. With RA 65, you'll be able (in theory) to ask me again in another 20 years.
As you say, a personal career decision. Talk with your relative, he'll have a better insight than you give him credit for.
The best description I've ever heard about working at CX is this:
It's good when your near the jets, bad when you're near the buildings.
Very true
Good Luck