All this is, is a publicity stunt trying to get people back on traditional airlines. Fact is that seats advertised are not readily available and are still more expensive than seats on no frills airlines.
All the traditional airlines can't just become low cost because they slash fares and scrap the food, cost control is nowhere near enough to operate profitably offering these prices. Neither do they have the required economies of scale required to operate profitably.
As they say, time will tell...