In a competitive environment, prices tend to reflect costs, whereas in a more monopolistic environment, not only are costs higher, but prices may represent a large markup over costs.
Moral: the consumer pays the costs of consumer protection legislation, especially in a highly competitive market. O'Leary has only made explicit what others keep somewhat hidden. For once, I'm on his side.
The real muppets are the EU Commission, desperately trying to be popular. In doing so, have they undermined the incentive to buy travel insurance? Should travellers not be encouraged to take responsibility for the risks they incur and insure themselves? M O'L is doing it for them!