...“The industry has always maintained that the migration to the new system must be benefits-driven. But the only real beneficiary of this new ADS-B Out mandate is the FAA.”
Yes, the FAA is the "direct" beneficiary... but the Industry is the "indirect" beneficiary.
Do you think that the FAA is rubbing it's hands together because it will now be able to sit, with a beer in its hand, watching lots of dots on the screen?
The fact that those dots are there will mean that they will be able (required) to provide a safer and more efficient service... which means that pilots are more likely to get home safer, that MACS are less likely, that punters will see the skies as safer, that more punters will fly. That is the BENEFIT.