411A - some of what you say is quite true. That is that the cost of flying in Europe has, until recently, indeed been absurdly high. Passengers will certainly 'vote with their wallets' - as I did when I stopped flying Lufthansa and switched to buzz. £80 more for a free drink and a Lufthansakaesebroetchen was just ridiculous! LH switched from A300-600 to smaller ac on the LHR-FRA route, hence there were fewer 'baragin seats' available - but STN-FRA with buzz was much cheaper, you buy a drink if you want one (except when they offload the bar....) and it's a very happy operation compared to the rather impersonal LH.
I've no experience of Easyjet or RyanAir - except for conversations with Easyjet's chief operations manager. Yes, they operate an efficient and popular service and have a loyal and mostly happy team - with a charismatic and genial boss. But that may not be true of other low-cost airlines........
Good luck to Easyjet,buzz, bmibaby, Go(ne) et al. - you've made air travel available to many thankful passengers.