I've often likened aviation to the medical profession for some reason. There is a significant difference however. With a quota system and hurdles for entry, it is not possible to 'buy' your medical degree whereas it is your ATPL. Seems to me that one solution to the relentless downward pressure on conditions would be to set the 'bar' somewhere and make flying training less accessible. (unfortunately)
If a Pilot Organisation (think AMA) were to control of the numbers and standards of pilots produced in Australia, it could be the first step in controlling the erosion of pay and conditions.