I don't think that is so much of an issue as compared to how it is managed - certainly a lot of the young girls joining BOAC in the 50s and 60s didn't expect to stay for 40 years, but lifestyles and job changed. Short of causing enormous disruption by novating contracts to non-seniority contracts similar to newer airlines while appealing would, actually, destroy much of the financial stability that people would by then have built up.
To a certain extent, it's a self-fulfilling prophesy. There are undoubtedly a number of BA cabin crew who would not have joined at all, had the pay and conditions not been the way they are. Fair enough. However, they are the ones who choose to stay on, precisely because of the pay and conditions which cause costs to constantly inflate due to the pay points. I'm not saying it's right or wrong per se, simply that a flat, industry standard wage structure would have attracted a different demographic and salary costs would have remained competitive.
PS: tomkins, give it a rest. You'll no doubt be moderated into oblivion shortly anyway. The mods (evening, Flaps 
) don't take kindly to people going off topic. Trust me, I know. 